Mark Cuban To Be Deposed Next Month in Voyager ‘Ponzi’ Suit

Dallas Mavericks owner Mark Cuban will be deposed with two employees as he defends against a lawsuit likening Voyager to a Ponzi scheme


DFree/, modified by Blockworks


“Shark Tank” billionaire Mark Cuban is set to be deposed as part of a class-action lawsuit over his role in promoting failed crypto lender Voyager to millions of Americans.

A number of Voyager users filed the lawsuit in August, claiming both Cuban and Voyager CEO Steve Ehrlich encouraged them to invest with the alleged “deceptive” platform, which plaintiffs claim was a “massive Ponzi scheme.”

A deposition refers to the testimony of an individual conducted outside of court as part of the discovery process conducted prior to a trial. 

Cuban had requested a US judge to split the deposition process into two sessions. But a court filing dated Jan. 9 showed US magistrate judge Lisette Reid ordered him to do it in one sitting. He is now scheduled to be deposed in Dallas, Texas on Feb. 2.

The judge also ordered Pierce Robertson, Rachel Gold and Sanford Gold, three plaintiffs who brought the suit forward, to be deposed between Jan. 9 and Jan. 24.

Cuban’s professional basketball team the Dallas Mavericks was also named in the suit. Two team execs for corporate partnerships, Ryan Mackey and Kyle Tapply, will also be deposed before Feb. 23.

“Cuban and Ehrlich, as will be explained, went to great lengths to use their experience as investors to dupe millions of Americans into investing — in many cases, their life savings — into the Deceptive Voyager Platform,” the lawsuit read.

“As a result, over 3.5 million Americans have now all but lost over $5 billion in cryptocurrency assets.”

The suit further alleged that public support of Voyager by the Dallas Mavericks and Cuban showed they were targeting amateur investors with misleading promises of making large profits.

Cuban and Voyager didn’t return Blockworks’ requests for comment by press time. Voyager filed for bankruptcy in July after crumpling under exposure to now-defunct crypto hedge fund Three Arrows Capital.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Screenshot 2024-05-23 091855.png


Bitcoin L2s aim to boost scalability while preserving decentralization and security, unlocking a better user experience, and new avenues for Bitcoin-powered innovations. However, no existing Bitcoin L2 leverages the full security of Bitcoin.



The convergence of AI and blockchain on Polkadot represents a groundbreaking opportunity for investors and developers alike


The company is making public a previously private offer rejected by Bitfarms’ board of directors last month


Semler Scientific, a publicly traded medical tech company, joined MicroStrategy by buying up millions of bitcoin


As someone who’s been knee-deep in the trenches of blockchain development, I can’t help but wonder if these behemoths are really cutting it anymore


UNI and MKR are suffering from the successes of their respective protocols


Maybe there’s no silver bullet to avoiding most tokens dumping after launch…