Patrick Horsman Files Defamation Lawsuit Over False LGBCoin Allegations
On Friday, November 8, 2024, Patrick Horsman filed a first amended complaint in the US District Court for the Northern District of Florida against Brett Jefferson, Ryan Andrews, and the Andrews Law Firm, P.A. The lawsuit alleges that the defendants engaged in a campaign of defamation against Horsman, resulting in significant damage to his personal and professional reputation.
The complaint details a series of false statements made by Jefferson and Andrews, who purportedly used pseudonyms to spread damaging information about Horsman online. According to the filings, Jefferson has a history of defamation and has previously faced legal consequences for similar actions. The plaintiff claims that the defendants’ actions have led to his career being severely impacted, prompting him to seek $40 million in compensatory damages and $160 million in punitive damages.
Horsman, a citizen of Puerto Rico, asserts that Jefferson and Andrews, both citizens of Florida, conspired to ruin his reputation as a means of retaliation stemming from a failed investment in a CBD startup. The complaint states that Jefferson threatened Horsman in August 2020, demanding a payment of $3.65 million to cover investment losses and warning that he would damage Horsman’s career if his demands were not met.
A central focus of the complaint is the May 29, 2023, article published under the pseudonym “Catherine Davis,” which falsely alleged that Horsman was involved in a class-action lawsuit related to a cryptocurrency scheme known as LGBCoin. The article claimed that Horsman and a business partner were accused of fraud and unjust enrichment, despite the fact that Horsman was not a party to the lawsuit and had not been implicated in any wrongdoing.
The May 29 article included statements that mischaracterized Horsman’s involvement with Coral Capital Management, LLC, presenting him as a key figure in a fraudulent scheme. The complaint highlights that the article misrepresented the allegations in the actual legal filings, which did not mention Horsman at all. This misrepresentation contributed to a false narrative that significantly harmed Horsman’s reputation in the business community.
Horsman contends that the defamatory article has led to serious professional consequences, including loss of business partnerships and difficulties in securing financial opportunities. He emphasizes that the negative portrayal in the article has deterred potential investors and clients, resulting in economic losses that he attributes directly to the defendants’ actions.
In addition to the May 29 article, the lawsuit also addresses the August 27, 2022, article that falsely implicated Horsman in a $3.7 million fraud case. Together, these publications are presented as part of a broader strategy by Jefferson and Andrews to damage Horsman’s career and personal standing.
The complaint alleges that Jefferson and Andrews acted with actual malice and ill intent, asserting that their actions were designed to inflict harm on Horsman. The filing indicates that the defamatory statements have had far-reaching consequences on Horsman’s professional life, leading to economic loss and emotional distress.
The lawsuit seeks punitive damages, suggesting that the defendants’ conduct was not only harmful but also demonstrated a malicious disregard for the truth. Horsman, through his legal representatives, has indicated that he intends to hold the defendants accountable for their actions in court.
Please contact BlockTribune for access to a copy of this filing.
