Billionaire Mark Cuban will be questioned under oath in February about promoting the now-bankrupt crypto platform Voyager Digital.
Cuban’s Dallas Mavericks team formed a partnership with Voyager in 2021 to help promote it to fans.
Disgruntled customers have filed a lawsuit against him, saying their trust in his advice is what convinced them to use the defunct platform, which conned them out of billions.
His deposition is scheduled for Feb. 2 in Dallas, according to a Jan. 9 court filing in U.S. District Court of the Southern District of Florida. U.S. Magistrate Judge Lisette M. Reid denied Cuban’s request to split the deposition into two hearings.
Cuban said via email that he had no comment.
Two Dallas Mavericks employees will also be deposed prior to Feb. 23. Sworn statements will be taken from three people who are suing later this month.
The class-action suit was filed in August in federal court in southern Florida on behalf of millions of investors. It alleges that 3.5 million Americans lost over $5 billion in cryptocurrency assets after Voyager filed for bankruptcy in New York on July 5.
Cuban’s NBA team and Voyager CEO Stephen Ehrlich are also listed as defendants.
The Mavs announced a five-year partnership with Voyager in 2021. Fans were given a limited deal where they could deposit $100 and trade at least $10 by the end of the month to get a $100 reward. The influx of new users was so great that Voyager added a waitlist.
The suit said Cuban and Ehrlich “personally reached out to investors, individually and through the Dallas Mavericks, to induce them to invest in the deceptive Voyager platform.”
The lawsuit said Cuban, Ehrlich and the Mavs should pay the victims back.
The partnership came at a bad time in the crypto world. The global market cap of cryptocurrencies has fallen from a peak of roughly $3 trillion in November 2021 to about $900 billion today.
