Fun

Tom Brady, Gisele Bündchen, Kevin O’Leary, and 9 Other Celebrities Named in FTX-Related Class-Action Lawsuit

News Feed - 2022-11-17 02:11:03

Tom Brady, Gisele Bündchen, Kevin O"Leary, and 9 Other Celebrities Named in FTX-Related Class-Action Lawsuit


Former FTX CEO Sam Bankman-Fried (SBF) and a number of celebrities including Tom Brady, Gisele Bündchen, Stephen Curry, and Shaquille O’Neal have been named in a class-action lawsuit involving the alleged engagement in deceptive practices with FTX. The lawsuit was filed by the attorneys Adam Moskowitz and David Boies late Tuesday, and the suit alleges that SBF and the exchange’s associated celebrities promoted unregistered securities. Class Action Lawsuit Accuses SBF and 12 Celebrities of Pumping a ‘Ponzi Scheme,’ Claims $11 Billion in Damages Suffered


Sam Bankman-Fried, otherwise known as SBF, and 12 other defendants including the NBA team the Golden State Warriors LLC, are named in a class-action lawsuit filed by Moskowitz and Boies on behalf of the Oklahoma resident Edwin Garrison.


In addition to the NBA franchise, celebrities and well known individuals such as Tom Brady, Gisele Bündchen, William Trevor Lawrence, Kevin O’Leary, Naomi Osaka, David Ortiz, Stephen Curry, Udonis Haslem, Shaquille O’Neal, Shohei Ohtani, and Lawrence Gene David are also defendants.


“FTX’s fraudulent scheme was designed to take advantage of unsophisticated investors from across the country, who utilize mobile apps to make their investments,” Garrison’s complaint filed Tuesday says. “As a result, American consumers collectively sustained over $11 billion dollars in damages.”


Moreover, the lawsuit also says that SBF’s operation was no more than a “Ponzi scheme” and celebrities “actively participated” in its promotion, Garrison’s complaint insists. Additionally, the filing also notes that emails and texts between the defendants were decimated but the lawfirm was able to obtain the evidence. The complaint notes: Although many incriminating FTX emails and texts have already been destroyed, we located them.


Garrison’s court case Garrison v. Bankman-Fried, 22-cv-23753, was filed in the Southern District of Florida. Garrison’s lawsuit claims the actions of the celebrities, FTX, and SBF hurt “thousands, if not millions, of consumers nationwide.” The 13 defendants in Garrison’s lawsuit are accused of participating in the “offer and sale of unregistered securities in the form of yield-bearing accounts.” Tags in this story 12 celebrities, Adam Moskowitz, Celebrities, Class-Action, David Boies, David Ortiz, Edwin Garrison, ftx, FTX collapse, FTX Sam Bankman-Fried, Garrison v. Bankman-Fried, Gisele Bündchen, kevin o"leary, Lawrence Gene David, Naomi Osaka, Sam Bankman-Fried, sbf, Shaquille O’Neal, Shohei Ohtani, Stephen Curry, Tom Brady, Udonis Haslem, William Trevor Lawrence


What do you think about the former FTX boss and 12 celebrities named in the class-action lawsuit that claims consumers suffered from $11 billion dollars in damages from the FTX fallout? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Terra’s $2.8B Defense System — Luna Foundation Guard Audit Says Group Spent More Than 80,000 Bitcoin Defending UST Peg NEWS | 1 hour ago US House Committee to Investigate and Hold Bipartisan Hearing on FTX Collapse NEWS | 2 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBiggest Movers: BCH Climbs to 1-Week High, DOT Declines Next articleTerraform Labs Co-Founder Daniel Shin’s Firm Chai Reportedly Raided by Seoul Prosecutors Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItToday"s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits


As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per ... read more.UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40% FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design

News Feed

Marcel Pechman5 hours agoCME Bitcoin trading volume surpasses Bybit, but is it impacting BTC price?BTC trading volume at CME recently eclipsed Bybit, but what does this mean for Bitcoin"s price?957 Total views38 Total sh
BTC Proxy Lists on AscendEX
BTC Proxy Lists on AscendEX press release PRESS RELEASE. AscendEXis eager to announce the listing of the BTC Proxy token (PRXY) under the trading pair USDT/PRXYon Sept. 24 at 1 p.m.
Merge Flippening Predictions Fail as Ethereum’s Market Dominance Drops 13% in 30 Days
Merge Flippening Predictions Fail as Ethereum’s Market Dominance Drops 13% in 30 Days During the last 35 days, ethereum has lost a significant amount of market dominance leading
Felix Ng5 hours agoMeta’s Horizon Worlds launches on mobile and web in early accessMark Zuckerberg’s Horizon Worlds is extending past virtual reality in a bid to bring more users to its 3D virtual world.1723 Total vi
Data Provider Messari Closes $4 Million Funding Round
Data provider Messari has closed a $4 million funding round led by Uncork Capital with new participation from Coinbase Ventures and former Coinbase CTO Balaji Srinivasan, according to a statement from the New York-based
Arkham’s top 5 doxed crypto hodlers own $3.5B, but 35% is untouchable
Martin Young2 hours agoArkham’s top 5 doxed crypto hodlers own $3.5B, but 35% is untouchableAround $1.2 billion worth of crypto in the top five holders’ wallets have been flagged as ‘inaccessible’ due to lost pri
Arijit Sarkar1 hour agoUK FCA shuts down 26 crypto ATMs following coordinated investigationThe FCA and other law enforcement agencies investigated 36 crypto ATM locations using powers under money laundering regulations.5
Venezuelan Government Signs Agreement to Establish Guidelines for Granting Licenses to Crypto Miners
Venezuelan Government Signs Agreement to Establish Guidelines for Granting Licenses to Crypto Miners The National Superintendency of Crypto Assets (Sunacrip) and
Cointelegraph Innovation Circle9 hours ago16 tips for managing the business development side of scalingTo successfully scale, crypto and blockchain companies need to know as much about business development as they do abo
Hedera’s HBAR token pumps 96% on misinterpreted BlackRock announcement
Brayden Lindrea3 hours agoHedera’s HBAR token pumps 96% on misinterpreted BlackRock announcementA widely misinterpreted announcement from the HBAR Foundation has sparked confusion among crypto influencers and sent the
SEC pushes back against Coinbase's 'overly broad' discovery requests
Martin Young4 hours agoSEC pushes back against Coinbase"s "overly broad" discovery requestsThe regulator claims that Coinbase"s document discovery requests are overly broad and disproportionate to the needs of the case.7
Turner Wright11 hours agoTornado Cash lawsuit judge sides with US Treasury in motions for summary judgmentCompeting motions for summary judgment saw a federal judge rule the U.S. Treasury was within its authority to decl