Steph Curry, Shaq and Shohei Ohtani are among the names listed in a class-action lawsuit filed on Tuesday that alleges they promoted the crypto 'Ponzi scheme' to investors.
A proposed class-action filed in federal court in Florida late Tuesday names those four, along with other athletes and entertainers, as defendants in the case. All promoted FTX, one of the world's largest crypto trading platform exchanges before it declared bankruptcy on November 11, with the company now under investigation for possible securities violations.
"It is still very difficult to comprehend that just one company defrauded more than $11 billion dollars from consumers, all from our backyard here in Miami," Adam Moskowitz, the attorney leading the class action, said in an email. As part of a $20 million ad campaign, Brady and Bundchen in 2021 filmed a commercial called"FTX. You In?"David, the creator of"Seinfeld" and"Curb Your Enthusiasm," appeared in anOther current and former athletes named in the suit are NBA star Stephen Curry; NFL quarterback William Trevor Lawrence; baseball player Shohei Ohtani; tennis player Naomi Osaka; and broadcaster and former basketball player Shaquille O'Neal.
The exchange shuffled customer money between affiliated entities, using new investor funds and loans to pay interest to the old ones in an attempt"to maintain the appearance of liquidity," Moskowitz alleged, adding that FTX used public figures to give the operation an air of credibility.
That means FTX account holders, who used the platform to trade bitcoin, ethereum and other digital currencies, may have to wait years
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tom Brady, Larry David and other celebrities named in FTX lawsuitClass-action lawsuit alleges that the crypto platform FTX and former CEO Sam Bankman-Fried violated Florida law, misled customers and cost investors billions of dollars in damages.
Read more »
Tom Brady, on two-game winning streak, makes noticeable social media changeTom Brady has led the Tampa Bay Buccaneers to back-to-back wins and on Monday made a big and very noticeable change to his Twitter profile.
Read more »
Tom Brady removes Gisele Bündchen from Twitter header weeks after divorceTom Brady looks to have done what most people do when they’ve gone through a breakup and their ex appears to already be in the arms of another — change your social media profile photos.
Read more »
Inside SBF's Now-Deleted Tweets: Clients' Assets, Tom Brady and Binance's CZAnalysts dumped 118 tweets deleted from former FTX CEO's account, here's what they can tell us
Read more »
Tom Brady Tweets About Bucs’ Botched Trick Play vs. SeahawksTom Brady had some fun on Twitter after the Buccaneers’ win over the Seahawks in Germany on Sunday, and he got massive interaction in response
Read more »