Steph Curry, Tom Brady and his estranged-wife, Gisele Bündchen are among the celebrities and athletes named in a lawsuit following the collapse of FTX, a popular cryptocurrency exchange app that went bankrupt last week.
Millions of investors lost billions of dollars when the FTX crypto exchange went belly up.
The class action lawsuit was filed in a Florida federal court on Tuesday, Nov. 15. Users of the FTX platform were locked out of their accounts and unable to access their wallets.
FTX founder Sam Bankman–Fried declared bankruptcy on Friday, Nov. 11. He allegedly transferred $10 billion in crypto from FTX to another company he controls.
This is Sam Bankman-Fried on Meet the Press a few months ago… #SBF_FTX
Usually, people don’t shake so hard the chair moves … ? ? ? pic.twitter.com/tWADyi53Hr
— Wall Street Silver (@WallStreetSilv) November 15, 2022
According to documents, obtained by TMZ, Bankman-Fried created a fraudulent cryptocurrency scheme “designed to take advantage of unsophisticated investors from across the country.”
The plaintiffs say investors were duped into investing in FTX via flashy commercials starring Curry, Brady, and other bold name stars.
In one commercial, Curry denies he is a cryptocurrency expert, while NBA legend Shaquille O’Neal insists Curry is one.
“I’m not an expert, and I don’t need to be,” Curry said in the commercial. “With FTX I have everything I need to buy, sell and trade Crypto safely.”
The plaintiffs allege Bankman-Fried enlisted Brady, Bundchen, Curry, O’Neal, Udonis Haslem, David Ortiz, Naomi Osaka, Kevin O’Leary, and more to help him promote FTX.
According to the lawsuit, consumers lost over $11 billion in the FTX scheme.
Watch the video below.
