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Gadasalli v. Bulasa

Case Number: 4:22-cv-00249 (ongoing)

Court: United States District Court, E.D. Texas, Sherman Division

Case Filed: May 2022, 2023

Plaintiff: Divya Gadasalli

Defendants: Jerry Bulasa, Dong Lian, and Danyun Lin

Judge: Amos L. Mazzant (district judge)

Amount: over $8 million

Case Summary:

Gadasalli and Bulasa met on an online dating service and Gadasalli believed they had a romantic connection. She saw Bulasa as a successful cryptocurrency investor and invested over $8 million in him (multiple transfers). She was informed that her investments had grown to approximately $10 million dollars by Bulasa. However, Gadasalli was unable to withdraw any of the actual funds from her accounts and after Bulasa’s multiple excuses unable to return the money, Gadasalli filed the following case. The money was transferred each time to an account held by Lian or Lin and from there was transferred to Bulasa.

Against Bulasa, Gadasalli brought claims of fraudulent inducement, negligent misrepresentation, conversion, and civil conspiracy; against Lian and Lin for civil conspiracy; against Binance and Poloniex for aiding and abetting conversion; and against TD Bank and Abacus Bank for the imposition of a constructive trust and disgorgement of funds (Dkt. #1). Gadasalli subsequently filed an emergency ex parte motion for a Temporary Restraining Order (“TRO”) against Bulasa (Dkt. #2). The Court denied the motion without prejudice for counsel's failure to certify its efforts to give notice of the motion to Bulasa, in accordance with Federal Rule of Civil Procedure 65 (Dkt. #10). Gadasalli requested the court to freeze Bulasa’s assets including certain cryptocurrency accounts and cryptocurrency Wallet Addresses.

Court Results:
  • Bulasa

Plaintiff Divya Gadasalli's Renewed Emergency Motion for Temporary Restraining Order Without Notice Against Defendant Jerry Bulasa (Dkt. #11) is hereby DENIED without prejudice.

  • Binance

Defendant Binance Holdings Ltd.'s Motion to Dismiss the Amended Complaint for Lack of Personal Jurisdiction and Failure to State a Claim (Dkt. #32) is GRANTED.

It is further ORDERED that Divya Gadasalli's claim against Binance Holdings Ltd. for Civil Conspiracy, which is located in Count IV is DISMISSED without prejudice. All other claims by Divya Gadasalli will remain and all the other Defendants listed in Count IV will remain.

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