Lime Co-Founder Embroiled in $100M RICO Lawsuit Over Cere Token Crash

A high-profile Silicon Valley executive has been added to the growing list of crypto-related legal battles. Brad Bao, co-founder of Lime, has been named as a defendant in a $100 million federal RICO lawsuit tied to an alleged pump-and-dump scheme involving the Cere token.

The lawsuit alleges that insiders sold nearly $42 million worth of tokens at launch, triggering a 99% price collapse. This rapid sell-off effectively wiped out retail participants while benefiting insiders, according to the complaint.

Brad Bao is accused of lending credibility to the project and approving transactions linked to alleged fund misuse. The case reflects growing use of federal racketeering laws in major crypto fraud disputes.