Brad Bao of Lime Named in Federal RICO Lawsuit Over Alleged Crypto Fraud

Brad Bao, co-founder of Lime, is named in a federal RICO lawsuit alleging a wide-ranging crypto fraud scheme. Get details on the case and Lime's history.

Brad Bao, co-founder of scooter company Lime, has been named among several defendants in a federal RICO lawsuit alleging a massive crypto fraud scheme. The filing accuses multiple individuals of participating in an alleged scheme involving cryptocurrency, and Bao’s inclusion has drawn attention because he is best known for building Lime into one of the world’s largest shared micro-mobility companies.

Bao helped grow Lime to a reported $2.4 billion valuation, transforming e-scooters and shared bikes into a mainstream urban transport option. That background in the scooter industry makes the new allegations notable: a figure associated with high-profile startup success is now linked, in a legal complaint, to activities in the cryptocurrency sector. It's important to emphasize that the complaint describes alleged conduct, and defendants are presumed innocent unless proven otherwise in court.

The RICO claim refers to the federal Racketeer Influenced and Corrupt Organizations Act, a statute commonly used in cases alleging coordinated illegal activity. RICO lawsuits can encompass a range of allegations, from fraud to money laundering, and are typically complex and fact-heavy. Observers say that when RICO is invoked in crypto-related litigation, it signals prosecutors or plaintiffs are alleging broad, organized wrongdoing rather than isolated mistakes.

As this case develops, key questions will include the specific allegations against each named defendant, the evidence presented, and whether regulators or prosecutors will pursue parallel actions. For followers of both the micro-mobility and cryptocurrency industries, the case underscores how entrepreneurs and investors can find themselves at the intersection of fast-moving technology markets and evolving legal scrutiny.

For now, updates will come through court filings and official statements. Readers seeking the latest should look for reputable news coverage and primary legal documents to understand the scope of the allegations and the defenses offered. The situation is a reminder of the legal risks that can accompany ventures in emerging sectors like cryptocurrency, even for entrepreneurs previously celebrated for building disruptive businesses like Lime.

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