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

article-image

DFree/Shutterstock.com, modified by Blockworks

share

“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.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (3).png

Research

Pear Protocol has proven its market fit through its pair-trading infrastructure, sustaining consistent trading activity despite recent headwinds. Its strategic pivot toward Hyperliquid integration represents a major growth catalyst amid industry consolidation. While short-term token unlocks present challenges, current valuations and liquidity conditions may offer compelling opportunities for investors.

article-image

Memecoins, tech, and inflation have dominated the first half of the year

article-image

As the Trump administration continues to test Fed independence, markets are beginning to react

article-image

An Aave interest rate shock prompted over 475,000 validators to exit and pushed stETH into a prolonged depeg

article-image

While Roman Storm’s team is set to present its case, it’s not yet clear if the Tornado Cash founder will testify

article-image

A wireless network inspired by lost drones is now helping telco carriers reach your phone indoors

article-image

The ETH products have notched $3.6 billion of net inflows from July 1 to July 22, Farside Investors data shows