Tom Brady and other celebrities named in class action lawsuit against FTX
Evidence suggests that "FTX's fraudulent scheme was designed to take advantage of unsophisticated investors", according to the lawsuit.
New
Former FTX CEO Sam "SBF" Bankman-Fried and a number of celebrity supporters of FTX were named in a class action lawsuit filed Nov. 15 in Miami.
Involved in the class action are celebrities, athletes and teams, including Tom Brady, Gisele Bundchen, Steph Curry, the Golden State Warriors, Shaquille O'Neal, Udonis Haslem, Larry David and all other parties who " controlled, promoted, assisted and actively participated in "FTX Trading LTD and West Realm Shires Services Inc.
According to court documents filed, Edwin Garrison, the plaintiff, purchased and funded his account with a sufficient amount of crypto assets to earn interest on his holdings, but suffered “damages suffered” as a result of the collapse of FTX.
The lawsuit alleged that FTX attempted to destroy incriminating emails, text messages and evidence of its criminal activities. However, recovered evidence suggests that "FTX's fraudulent scheme was designed to take advantage of unsophisticated investors across the country, who use mobile apps to make their investments".
The lawsuit alleges that "American consumers collectively suffered more than $11 billion in damages".
Related:US Reportedly Considering Bankman-Fried Extradition for Questioning
Since the collapse of FTX, many have called for the former CEO to face legal ramifications. As Cointelegraph reported, US authorities have reportedly begun working with Bahamian law enforcement to potentially extradite SBF to the United States for questioning.
FTX is already under investigation in the Bahamas where its FTX Digital Markets arm is located, along with numerous corporate executives, including SBF. The Turkish financial authorities have also
Evidence suggests that "FTX's fraudulent scheme was designed to take advantage of unsophisticated investors", according to the lawsuit.
New
Former FTX CEO Sam "SBF" Bankman-Fried and a number of celebrity supporters of FTX were named in a class action lawsuit filed Nov. 15 in Miami.
Involved in the class action are celebrities, athletes and teams, including Tom Brady, Gisele Bundchen, Steph Curry, the Golden State Warriors, Shaquille O'Neal, Udonis Haslem, Larry David and all other parties who " controlled, promoted, assisted and actively participated in "FTX Trading LTD and West Realm Shires Services Inc.
According to court documents filed, Edwin Garrison, the plaintiff, purchased and funded his account with a sufficient amount of crypto assets to earn interest on his holdings, but suffered “damages suffered” as a result of the collapse of FTX.
The lawsuit alleged that FTX attempted to destroy incriminating emails, text messages and evidence of its criminal activities. However, recovered evidence suggests that "FTX's fraudulent scheme was designed to take advantage of unsophisticated investors across the country, who use mobile apps to make their investments".
The lawsuit alleges that "American consumers collectively suffered more than $11 billion in damages".
Related:US Reportedly Considering Bankman-Fried Extradition for Questioning
Since the collapse of FTX, many have called for the former CEO to face legal ramifications. As Cointelegraph reported, US authorities have reportedly begun working with Bahamian law enforcement to potentially extradite SBF to the United States for questioning.
FTX is already under investigation in the Bahamas where its FTX Digital Markets arm is located, along with numerous corporate executives, including SBF. The Turkish financial authorities have also
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