Welp, that didn't take long. The first civil suit against the still-imploding crypto exchange FTX was just filed in a Florida court, accusing FTX, disgraced CEO Sam Bankman-Fried, and 11 of the exchange's many celebrity ambassadors of preying on "unsophisticated" retail investors.
The list of celeb defendants impressive — honestly, it reads more like an invite list to a posh award show than a lawsuit.
Geriatric quarterback Tom Brady and soon-to-be-ex-wife Gisele Bündchen lead the pack, followed by basketball players Steph Curry and Udonis Haslem, as well as the Golden State Warriors franchise; tennis star Naomi Osaka; baseballers Shoehi Ohtani, Udonis Haslem, and David Ortiz; and quarterback Trevor Laurence.
Also named is comedian Larry David — who starred in that FTX Super Bowl commercial that very specifically told investors that even if they didn't understand crypto, they should definitely invest — and investor Kevin O'Leary of "Shark Tank" fame.
"The Deceptive and failed FTX Platform," reads the suit," "was based upon false representations and deceptive conduct."
"Many incriminating FTX emails and texts... evidence how FTX’s fraudulent scheme was designed to take advantage of unsophisticated investors from across the country," it continues. "As a result, American consumers collectively sustained over $11 billion dollars in damages."
Indeed, a number of FTX promos embraced an attitude similar to the cursed Larry David commercial. In one, Steph Curry tells viewers that with FTX, there's no need to be an "expert," while a Naomi Osaka promotion pushed the idea that crypto trading should be "accessible," "easy," and "fun."
It's also worth noting that this isn't the first suit of its kind. Billionaire Mark Cuban, also of "Shark Tank" fame, was named in a class action lawsuit launched against the bankrupt lender Voyager in August, while reality TV star Kim Kardashian was recently made to pay a roughly $1.2 million fine for hawking the "EthereumMAX" token without disclosing that she was paid to do so.
The FTX suit, however, appears to be the most extensive — and high-profile — of its kind. And while a fine for a million or two is basically a one dollar bill to this tax bracket, $11 billion, even if split amongst a group of 11 exorbitantly wealthy celebs, is a more substantial chunk of change.
Of course, whether anyone actually ever has to pay up remains to be seen. Regardless, it's still a terrible look, and real people got hurt. If there's any defense here, though? At least they didn't promise to be experts.
READ MORE: FTX founder Sam Bankman-Fried hit with class-action lawsuit that also names Brady, Bündchen, Shaq, Curry [Fox Business]
More on the FTX crash: Experts Say Sam Bankman-fried's Best Legal Defense Is to Say He's Just Really, Really Stupid
The post Celebrities Are Officially Being Sued by FTX Retail Investors appeared first on Futurism.
See the original post here:
Celebrities Are Officially Being Sued by FTX Retail Investors
- How good is fish for your diet? [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- What foods have both fiber and protein? [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Is There Evidence That Acupuncture Works? [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- What are some good fiber foods? [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Can Green Tea fight HIV infection? [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Quality of GNC Supplements [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- The Gene Smart Diet [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Tips for eating in a vegetarian lifestyle [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Regarding the Starting of a new diet regimen [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Thoughts on Dropping Weight [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- What do doctors think about vitamin E supplements? [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- What herbs or supplements are commonly used for depression? [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Is there a safe way to lose a lot of weight? [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Diets that promise you will lose weight [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Are Fish Toxins Linked to Diabetes? [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Can Plastic Surgery Help Migraines? [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Weight Loss Surgery Eradicates Diabetes Symptoms [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Found: A Gene That Controls Fat Cells [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Sugars and Starches, what's the difference? [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Improving your health with a serving of nuts? [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Is Your Diet Causing You To Be Depressed? [Last Updated On: December 13th, 2009] [Originally Added On: December 13th, 2009]
- Placebo Effect: Magnetic Bracelet Therapy [Last Updated On: December 13th, 2009] [Originally Added On: December 13th, 2009]
- Does serotonin promote sleep? [Last Updated On: December 13th, 2009] [Originally Added On: December 13th, 2009]
- Decreased energy levels - Overeating, Sleep, Nutrition [Last Updated On: February 1st, 2010] [Originally Added On: February 1st, 2010]
- When will the body begin to cannibalize muscle tissue? [Last Updated On: February 7th, 2010] [Originally Added On: February 7th, 2010]
- Foods that are high in antioxidants [Last Updated On: February 7th, 2010] [Originally Added On: February 7th, 2010]
- Editorial: Reduce health care costs by cutting administrative overhead [Last Updated On: April 1st, 2012] [Originally Added On: April 1st, 2012]
- Health Care Winners: Centene, Onyxx [Last Updated On: April 25th, 2012] [Originally Added On: April 25th, 2012]
- Dan Morain: Nurses union puts politics ahead of health [Last Updated On: April 25th, 2012] [Originally Added On: April 25th, 2012]
- What's next if Obamacare falls? [Last Updated On: April 25th, 2012] [Originally Added On: April 25th, 2012]
- Global Managed Health Care Services Industry [Last Updated On: April 25th, 2012] [Originally Added On: April 25th, 2012]
- Immigration Fight Echoes Health-Care Case at High Court [Last Updated On: April 25th, 2012] [Originally Added On: April 25th, 2012]
- Medical Centers Lead Workplace Wellness Effort [Last Updated On: April 25th, 2012] [Originally Added On: April 25th, 2012]
- The next health care overhaul? Look to employers [Last Updated On: April 25th, 2012] [Originally Added On: April 25th, 2012]
- Capital BlueCross Hosts Community Health Care Forums Focused on Managing Costs While Maintaining Quality [Last Updated On: April 25th, 2012] [Originally Added On: April 25th, 2012]
- County committee to look at area health care [Last Updated On: April 25th, 2012] [Originally Added On: April 25th, 2012]
- President Obama Calls on Students to Tell Congress: #DontDoubleMyRate - Video [Last Updated On: April 25th, 2012] [Originally Added On: April 25th, 2012]
- Sen. Coburn: Competition in Health Care to Allocate Resources - Video [Last Updated On: April 25th, 2012] [Originally Added On: April 25th, 2012]
- Jesse Kelly health care - Video [Last Updated On: April 25th, 2012] [Originally Added On: April 25th, 2012]
- PHC Vision Statement (short version) - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- The Bioeconomy Blueprint Panel - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- Providence Health Care's Vision Statement - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- Department of Health and Human Services: Minority Health Blogger Townhall - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- Health care worker accused of stealing identities of brain i - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- Health Care Reform, Part 1 of 3 | KYVE Insiders Roundtable - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- Health Care Reform: The ACA and Beyond - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- Is Broccoli Like Health Insurance? - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- Did Obama make a mistake on health care? - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- How Democrats Lie About Health Care - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- Toobin on Health Care: This was a "judicial hissy-fit" - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- President Obama says health care law will stand - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- Obama Defends Health Care Law From 'Judicial Activism' - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- Obama Healthcare Individual Mandate - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- President Obama attacks Supreme Court on health care - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- Raw Audio: High Court Dissects Health Care Act - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- Health care on trial - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- Final Day of Health Care Law Arguments Before Supreme Court - Video [Last Updated On: April 30th, 2012] [Originally Added On: April 30th, 2012]
- Feds to put up $1.9B for Oregon health overhaul [Last Updated On: May 4th, 2012] [Originally Added On: May 4th, 2012]
- Scuttling health care act will freeze Medicare, White House warns [Last Updated On: May 4th, 2012] [Originally Added On: May 4th, 2012]
- U.S. Health Care Spending High, But Quality Lags: Report [Last Updated On: May 4th, 2012] [Originally Added On: May 4th, 2012]
- Yes, the Health-Care Mandate Is About Liberty [Last Updated On: May 4th, 2012] [Originally Added On: May 4th, 2012]
- Health center gets $1M federal grant [Last Updated On: May 4th, 2012] [Originally Added On: May 4th, 2012]
- Health-care reform panel considers exchange options for Va. [Last Updated On: May 4th, 2012] [Originally Added On: May 4th, 2012]
- Hmong health care gap focus of Healthy House dinner [Last Updated On: May 4th, 2012] [Originally Added On: May 4th, 2012]
- Walsh-led health bill to be unveiled [Last Updated On: May 4th, 2012] [Originally Added On: May 4th, 2012]
- Ontario health system confusing for ailing seniors, study finds [Last Updated On: May 4th, 2012] [Originally Added On: May 4th, 2012]
- 'Health Care Deserts' More Common in Black Neighborhoods [Last Updated On: May 5th, 2012] [Originally Added On: May 5th, 2012]
- With federal money, Oregon kicks health care reform into high gear [Last Updated On: May 5th, 2012] [Originally Added On: May 5th, 2012]
- Nurse practitioners tackling more 'doctor' tasks [Last Updated On: May 5th, 2012] [Originally Added On: May 5th, 2012]
- Konza Prairie Health Center Receives $4.5 Million Grant [Last Updated On: May 5th, 2012] [Originally Added On: May 5th, 2012]
- Alberta wages hurting Sask. health care [Last Updated On: May 5th, 2012] [Originally Added On: May 5th, 2012]
- House releases plan to cut growth of Massachusetts health spending in half [Last Updated On: May 5th, 2012] [Originally Added On: May 5th, 2012]
- Mass. House Will Unveil Bill Seeking To Rein In Health Costs [Last Updated On: May 5th, 2012] [Originally Added On: May 5th, 2012]
- President Obama Welcomes the Kentucky Wildcats - Video [Last Updated On: May 5th, 2012] [Originally Added On: May 5th, 2012]
- President Obama Speaks on College Affordability - Video [Last Updated On: May 5th, 2012] [Originally Added On: May 5th, 2012]
- My First Job: Gene Sperling - Video [Last Updated On: May 5th, 2012] [Originally Added On: May 5th, 2012]
- Health-care costs worry near-retirees [Last Updated On: May 7th, 2012] [Originally Added On: May 7th, 2012]
- Massachusetts Institutes Health-Care Price Controls. Is America Next? [Last Updated On: May 7th, 2012] [Originally Added On: May 7th, 2012]
- Massachusetts Moves Toward Health-Care Price Controls. Is America Next? [Last Updated On: May 7th, 2012] [Originally Added On: May 7th, 2012]
- GOP plan boosts Pentagon, cuts social programs [Last Updated On: May 7th, 2012] [Originally Added On: May 7th, 2012]