| Key Points: – $100M civil RICO lawsuit names Brad Bao over Cere Network’s CERE token. – Coverage alleges governance failures, insider fees, early tokens during unresolved issues. – RICO theories seek treble damages; court scrutinizes lockups, insider sales, market conduct. |
A $100 million civil racketeering (RICO) complaint naming Lime co-founder Brad Bao in connection with Cere Network’s CERE token is pending in the United States District Court for the Northern District of California, case 3:26-cv-00857, according to the court docket. The suit is a private civil action, and all claims remain allegations at the pleading stage.
Coverage indicates the filing ties Bao’s board role at Cere Network to alleged token governance lapses and investor fund concerns, including claims he accepted fees and early tokens while governance issues persisted, as reported by DailyCoin (https://dailycoin.com/brad-bao-cere-token-fraud-lawsuit/). The complaint seeks monetary relief and invokes RICO-based theories alongside fraud and misrepresentation claims.
Civil RICO allows plaintiffs to plead an enterprise and a pattern of predicate acts such as wire fraud; if successful, remedies can include treble damages and attorneys’ fees. In token disputes, courts often examine lockup representations, insider sales, and market conduct for potential deception or manipulation.
The case was filed in February 2026, as reported by Coindoo (https://coindoo.com/lime-executive-sued-in-major-rico-case-tied-to-99-token-crash/). The San Francisco venue places the matter within a major technology hub’s federal jurisdiction.
Parties and roles in the complaint
The complaint identifies plaintiffs Vivian Liu and Goopal Digital Ltd., and names Cere co-founder Fred Jin, family members, executives, and board directors, including Brad Bao, as defendants, according to InsiderMonkey (https://www.insidermonkey.com/blog/lime-co-founder-brad-bao-named-in-100-million-federal-rico-lawsuit-alleging-massive-crypto-token-fraud-1698408/). The filing also alleges misstatements around token lockups, undisclosed insider sales, and tactics such as wash trading and bot-driven volume to mask distributions.
Procedurally, coverage noted a lack of defense appearances as of late January, prior to anticipated responses on the docket. Local News Matters reported, “no lawyer has yet entered an appearance in the case for Jin and the other defendants, and they have not yet responded to the allegations” (https://localnewsmatters.org/2026/01/29/cere-network-100m-fraud-racketeering-lawsuit/).
Media reviews also note no public response from Brad Bao or Cere Network to date, as covered by Cointelegraph (https://cointelegraph.com/news/cere-network-co-founder-board-face-100m-fraud-lawsuit). No regulator has announced a parallel enforcement action in the cited materials.
What CERE holders should watch next
Immediate market context and risk signals
At the time of this writing, CERE trades near $0.0002700 with bearish momentum and elevated day-to-day variability. The data show a 7.33% volatility measure, an RSI near 7.43 indicating oversold conditions, and only 5 of 30 recent sessions closing green.
Short-term averages trend above spot (SMA50 ~0.0003345; SMA200 ~0.0006994), a condition consistent with prolonged drawdowns. These figures are contextual and not advice or a forecast.
Key court filings and procedural milestones
Watch the N.D. Cal. docket for counsel appearances, an answer or motion to dismiss, and any requests for preliminary relief. Early motions will define which claims, including RICO counts, proceed into discovery.
Subsequent steps could include scheduling orders, discovery, and potential settlement discussions. Any actions by agencies such as the SEC or DOJ would be separate and have not been announced in the sources cited.
Disclaimer:
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