WILMINGTON, N.C. (WECT) – A Wilmington businessman and his local electric company are leading a proposed nationwide class-action lawsuit against a cryptocurrency fund, alleging that a lack of financial safeguards allowed an insider to loot nearly $60 million in investor assets.
The lawsuit, filed June 19 in New Hanover County Superior Court, accuses Quantum Blocks Capital, LP (QBC) and its management of promoting a “professionally managed” fund while giving a single manager “inadequately supervised” control over millions of dollars.
Caleb Hobbs and Wilmington-based Hobbs Electric LLC claim they personally invested at least $2.45 million in digital currency (USDC) between December 2024 and September 2025. According to the complaint, managers Jason A. Williams and Domenico Grillo personally solicited the investments, promising twice-yearly returns of 10% to 20% powered by an AI-driven…
Insurance fraud involves making false or exaggerated claims to an insurance provider.
- Hard Fraud: Someone deliberately causes a loss (e.g., setting fire to a warehouse or staging a car accident) specifically to collect a payout.
- Soft Fraud: More common and often viewed as “victimless” by the perpetrator. It involves exaggerating a legitimate claim, such as overstating the value of stolen items in a home burglary to cover the deductible.