[image credit : LFE]
London Football Exchange (LFE) founder Jim Aylward has reportedly admitted to manipulating the price of his platform’s cryptocurrency token.
News Talk 6PR’s Gareth Parker claims to have obtained a recording of Aylward admitting to manipulating the price of the LFE token by holding a majority stake in the coin’s supply and manipulating investors. The audio was allegedly sent to associates involved in the LFE project.
According to the report, Aylward said, “We are totally manipulating the price, we control about 95% of the token holders.”
The report also suggested that Aylward, who has intentions to purchase the football club Perth Glory FC, is the alias for James Abbass Biniaz, a man arrested in 2010 for value-added tax fraud (VAT).
While Aylward declined to comment on the 6PR allegations, he did post in an online chatroom, stating, “I will not be responding to accusations and I will not allow personal attacks on me to affect the project.”
In addition to the uncovered audio, the report says LFE is being sued in the New York State Supreme Court by a Miami-based investment firm named 777 Partners in connection to a bid for the purchase of a Spanish La Liga football club.