A class action lawsuit is forging ahead in Miami, against former FTX CEO Sam Bankman-Fried and several paid celebrity promoters of the now-defunct crypto exchange.
A class action lawsuit is forging ahead in Miami, against former FTX CEO Sam Bankman-Fried and several paid celebrity promoters of the now-defunct crypto exchange.
Three seperate lawsuits filed by plaintiffs have now been consolidated and be overseen by a U.S. District Court Judge in Florida.
The plaintiffs allege celebrities such as NFL quarterback Tom Brady, comedian Larry David and NBA star Stephen Curry lured in unsophisticated retail investors and promoted unregistered securities.
The Lead Attorney says: “We have no doubt that Sam [Bankman-Fried] committed one of the country’s largest financial scams and he had no intention of complying with any of these FTC and SEC celebrity endorsement regulations.”
He is confident that the FTX celebrity promoters will also have been found to have violated state and federal anti-touting laws.
