The Helbiz team had ICO in 2018.
Helbiz coin holders lost their money.
Now Helbiz is going to IPO on NASDAQ.
Helbiz coin holders filed a class-action case against Helbiz Inc., Salvatore Palella and others.
Case filed in New York Southern District Court on June 19, 2020
The Helbiz coin is a security - court desicion: on January 22, 2021

Yolo involvement in Helbiz fraud

Helbiz announced it signs Memorandum of Understanding with YOLO

What is the Memorandum of Understanding? It is often used either in cases where parties do not imply a legal commitment or in situations where the parties cannot create a legally enforceable agreement... So, it's the documents that have no any responsibility for parties.

So, we see one more Helbiz attempt to attract investors for IPO. It looks, like pump scheme. As you know The Helbiz team raised money through ICO and token sale in 2018, cheated all investors, and built Helbiz. Yolo doesn't sign agreement with Helbiz, but signs MoU...

What does it mean and how Yolo involved in this:

Helbiz deceived all Helbiz coin holders, had cut off all conection with ICO. Helbiz build the project for money from tokensale and going to IPO. The Helbiz coin holders lost their money and suited Helbiz.

Nevertheless, Yolo helps to Helbiz to do an IPO and signed MoU... It looks like:

- Yolo has close ties with Helbiz to think about parnetship, despite of so unclear background
- Yolo doesn't know about Helbiz background, so he has done a weak due diligence...?
- Yolo will not do any partnership with Helbiz, that's why Yolo signed only MoU, but Helbiz try to show it as a big deal...? So, make you conclusions!