Part 3/9:
Lawsuits and Allegations
Legal trouble quickly followed. Investors filed lawsuits claiming the operators of Tua Coin engaged in unlawful promotion and selling unregistered securities—a violation of securities laws. Court documents obtained by TMZ revealed that victims are suing the "Tua the Moon Foundation" and prominent individuals associated with the project, including a lawyer named Clinton and promoter Alex Larson Schultz.
These plaintiffs are not alleging direct fraud but instead focus on negligence—arguing that the team failed to adhere to securities regulations. They seek damages exceeding $150,000, alleging that Welch's team capitalized on her celebrity to manipulate investors into buying into a scheme that was doomed to collapse.