Florida-Based “Blockchain Real Estate Firm” Sued

In July of 2025, numerous sources reported that a Florida-based “blockchain real estate firm” had been sued for various forms of misconduct. The company has been accused of failing to adhere to the building code, unlawfully evicting tenants, and other violations. If your organization faces similar forms of litigation, you might want to contact an experienced real estate lawyer in New Port Richey.

Co-Founders of Crypto Real Estate Empire Sued for Violations in 400 Properties

According to numerous sources, a crypto real estate firm has been sued for violations across over 400 properties. The Detroit Free Press reports that these are “public nuisance” violations, and the city has prevented the firm from collecting rent until these issues are resolved.

The firm in question is allegedly using a system involving crypto tokens to offer investors “fractional ownership” of rental properties. In other words, the company has “tokenized” becoming a landlord. However, local regulators claim that this system is not working – and tenants are suffering with unsafe, dirty living conditions.

The firm refutes these claims, arguing that they are attempting to evict squatters from their properties. The firm also argues that it wants to make various renovations to improve the lives of its paying tenants, but it cannot do so due to its inability to evict the squatters. It claims that if the city were not protecting these squatters, it would have the ability to raise the funds for the much-needed renovations.

The court agrees that these renovations are crucial, but they disagree about the manner in which they should be funded. Using a system involving escrow accounts, the city will forcibly set aside future rental income. The crypto firm will then have the ability to access these funds, but only if they use the asset to fund appropriate renovations.

The firm also argues that many of the violations in question are completely unrelated to safety. One representative questioned the validity of these violations, stating:

“The question for the city should be how did the city’s few inspectors conduct enough inspections to amass $600,000 in infractions on one property owner in a city where blight is a citywide challenge?”

In response, the city argues that the tenants are living in such poor conditions that the landlords obviously knew about the issues. The city refers to the tenants as “victims,” pointing out rodents, structural issues, fire hazards, and crime. Finally, the city argues that the company owes hundreds of thousands of dollars in property taxes. Of course, the truth of these allegations must be explored in a fair, transparent trial.

Can a New Port Richey Real Estate Law Firm Help Me?

If you’re being sued as a landlord, you might want to get help from a New Port Richey real estate law firm. Attorneys can help you push back against allegations involving unlawful evictions or code violations. Defend yourself effectively, and you can continue to rake in profits without unnecessary interference from government regulators. Speak with Athanaselos & Associates, P.A. today to learn more about your options.

Source: 

freep.com/story/news/local/michigan/detroit/2025/07/24/judge-bars-real-token-from-collecting-rent-orders-repairs/85337634007/