Genius Group Limited, an AI-powered education company, has filed a lawsuit against Peter Ritz and Michael Moe from LZGI International, seeking over $450 million in damages. This action, filed under the Racketeer Influenced and Corrupt Organizations Act (RICO), stems from allegations that the defendants engaged in fraudulent activities to manipulate shareholder interests and drain resources from Genius Group. The lawsuit includes claims of mail fraud, wire fraud, and extortion. Genius Group is also proactively informing regulatory bodies like the SEC and FBI about these concerns. This case is part of a larger effort by the company to combat fraud and Market manipulation.
Genius Group Files Lawsuit Against LZGI International: RICO Allegations
On April 4, 2025, Genius Group Limited, a recognized leader in AI-driven education, announced that it has taken legal action against Peter Ritz and Michael Moe, controlling officers of LZGI International, Inc. The lawsuit was filed in the U.S. District Court in Florida and involves allegations under the Racketeer Influenced and Corrupt Organizations Act (RICO). The company seeks over $450 million in damages for the alleged fraud affecting its shareholders.
This legal development highlights a troubling pattern of deceitful practices by the defendants. Genius Group accuses them of engaging in activities ranging from mail fraud and wire fraud to extortion. The company’s complaint suggests that Ritz and Moe aimed to leverage LZGI as a platform to manipulate other microcap businesses for personal gain.
Key allegations include:
– A deliberate scheme to defraud shareholders of Genius Group through fraudulent asset transactions.
– Attempts to coerce microcap companies by threatening hostile takeovers and asset looting.
– A strategy by Ritz to manipulate the U.S. legal system, which included securing a restraining order to hinder Genius Group’s operations.
Genius Group is requesting a jury trial and is seeking no less than $150 million in damages, which may rise to $450 million based on Florida’s treble damages statute. This lawsuit underscores the company’s commitment to fighting fraud and protecting its stakeholders.
Genius Group, listed on the NYSE, focuses on merging Bitcoin with educational solutions, serving millions of users worldwide. For more details about their services and future developments, visit their official website.
In the coming weeks, Genius Group expects further legal actions, including a separate lawsuit regarding naked short selling and Market manipulation, highlighting their ongoing fight against fraudulent activities.
Tags: Genius Group, LZGI International, RICO lawsuit, fraud allegations, AI education, Bitcoin education, shareholder protection.
What is the RICO lawsuit against Michael Moe and Peter Ritz about?
The RICO lawsuit filed by Genius Group claims that Michael Moe and Peter Ritz were involved in unfair and illegal activities that harmed the company. They are seeking over $450 million in damages for these actions.
Why is Genius Group seeking such a large amount in damages?
Genius Group argues that the actions of Michael Moe and Peter Ritz caused significant financial losses and damage to their reputation. The company believes the amount reflects the serious impact these actions had on their business.
What does RICO stand for?
RICO stands for Racketeer Influenced and Corrupt Organizations Act. This law is used to prosecute individuals and groups involved in organized crime and fraudulent activities. Genius Group is using this law to support their case against Moe and Ritz.
How does this lawsuit affect Genius Group’s operations?
While the lawsuit is ongoing, Genius Group is focused on protecting its business and reputation. They aim to resolve the issue quickly so they can continue their operations without further disruptions.
What should investors know about this lawsuit?
Investors should pay attention to how the lawsuit may impact the company’s financial health and future prospects. Genius Group is committed to transparency and will keep its stakeholders informed about any significant developments in the case.
