A group of investors sued the FTX cryptocurrency exchange, its founder, and several celebrities who participated in the platform’s advertising.
In their lawsuit, the investors allege that the celebrities “participated in a fraudulent scheme” that “involved inexperienced investors.” Among the defendants, in addition to Sam Bankman-Fried (Sam Bankman-Fried), were NFL defensive player Tom Brady (Tom Brady), supermodel Gisele Bundchen (Gisele Bundchen), tennis star Naomi Osaka (Naomi Osaka), one of the most famous basketball players Shaquille O’ Neil (Shaquille O’Neal) and Shark Tank show host Kevin O’Leary.
The authors of the lawsuit emphasize that FTX and its affiliates organized a “full-fledged house of cards” and even a “pyramid”, “shuffled client funds between their affiliated legal entities and did not provide transparency.” The lawsuit also alleges that FTX used funds from new investors to pay back old investors and “create the appearance of liquidity.”
According to the plaintiffs, the organizers of the scheme destroyed a significant part of the evidence, including presentations and promotional emails. However, investors hope that American law enforcement agencies will be able to establish the fact of fraud and punish those responsible.
Bits.Media published a large-scale material telling the story of one of the biggest crises in the cryptocurrency industry.
Source: Bits
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