Wednesday 16 November 2022 07:08 PM FTX founder Sam Bankman-Fried and celebrities who endorsed the platform hit by ... trends now
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FTX founder Sam Bankman-Fried and a string of A-list celebrities who backed his failed crypto trading platform have been sued in a class action lawsuit worth $11 billion.
The suit filed in Florida names stars including Tom Brady, Gisele Bundchen, Shaquille O’Neal, Steph Curry and Larry David.
It claims Bankman-Fried, 30, and the celebrities he recruited to endorse FTX are behind losses to consumers valued at $11 billion.
The suit, filed by class action attorney Adam Moskowitz, alleges they are collectively 'responsible for the many billions of dollars in damages they caused Plaintiff'.
Bankman-Fried is already subject to several investigations over the firm's collapse.
Bankman Fried and several of his celebrity backers are being sued in a class action lawsuit which claims the collapse of FTX has cost consumers $11 billion
Tom Brady and now ex-wife Gisele Bundchen struck an equity deal with FTX last year. They're named in a class action lawsuit which alleges the firm's collapse has cost consumers $11 billion
Naomi Osaka took an equity stake with the popular crypto exchange in March of this year
The list of names in the filing includes: 'Sam Bankman-Fried, Tom Brady, Gisele Bundchen, Stephen Curry, Golden State Warriors, Shaquille O’Neal, Udonis Haslem, David Ortiz, William Trevor Lawrence, Shohei Ohtani, Naomi Osaka, Lawrence Gene David, and Kevin O’Leary.'
They are described as 'parties who either controlled, promoted, assisted in, and actively participated in' FTX's operations.
The suit adds: 'The Deceptive and failed FTX Platform was based upon false representations and deceptive conduct.
'Although many incriminating FTX emails and texts have already been destroyed, we located them and they evidence how FTX’s fraudulent scheme was designed to take advantage of unsophisticated investors from across the country, who utilize mobile apps to make their investments.
Steph Curry inked a partnership with FTX in September 2021, though details were undisclosed
