Cere Network's co-founder and board members are embroiled in a $100 million lawsuit claiming they executed a pump-and-dump scheme that defrauded investors. According to a lawsuit filed in a San Francisco federal court by Vivian Liu, who both worked for and invested in the company, Cere co-founder Fred Jin, along with his brother, wife, and the board, misappropriated $41 million from investors. The complaint alleges that Jin guaranteed before a public token launch in November 2021 that he and early investors would be unable to sell their tokens, which would be unlocked months later. However, while some tokens were 'locked' under a vesting schedule, Jin and his associates allegedly sold over $41 million in Cere Tokens on various exchanges immediately after the tokens became 'live.' Liu's complaint also claims that Jin collaborated with Gotbit, a market maker convicted of fraud, to manipulate trading volumes using 'sophisticated internet bots' to hide the alleged fraud. Liu is seeking $100 million in damages, reflecting the extensive scale of the alleged wrongdoing. This lawsuit follows another accusation from co-founder Kenzi Wang, who earlier this month accused Jin of systematically misappropriating over $58 million in corporate assets in Delaware. Wang alleged that Jin concealed his actions through fraudulent accounting and sham entities, transferring substantial amounts of Cere Tokens to personal accounts on crypto exchanges like HTX and KuCoin. The accusations against Jin paint a troubling picture of a company struggling with internal strife and alleged financial misconduct. As the case unfolds, it raises significant concerns about governance and trust in the rapidly evolving crypto space.