A law firm representing FTX investors has served former NBA star Shaquille O’Neal in a class action case against the celebrities who backed the failed cryptocurrency exchange. The lawsuit accuses Shaq, along with other public figures and the founder of the platform, of defrauding people who invest money in FTX.
Shaquille received legal notice in FTX lawsuit outside his home, lawyers say
After multiple attempts in recent months, legal representatives for a group of FTX investors were able to serve Shaquille O’Neal in a lawsuit against several celebrities who endorsed FTX. The latter was one of the largest cryptocurrency exchanges before filing for bankruptcy.
The plaintiffs in the class action lawsuit served Shaq out of his home, the Moskowitz Law Firm. Announced on Monday on Twitter, quoted by CNN. The lawyers also noted that the service was recorded by video cameras in his home.
UPDATE: Plaintiffs in Just-Filed $FTX Billion Class Action Case @SHAQ outside your house. Your home video cameras recorded our service and we made it very clear to you that you must not destroy or erase any of these security tapes, because they must be preserved for our lawsuit.
— The Moskowitz Law Firm (@moskowitzesq) April 17, 2023
Court documents show that O’Neal was the last of the celebrities named in the case, including Tom Brady, Gisele Bündchen and Stephen Curry, to receive legal notice. The lawsuit accuses them, along with FTX founder Sam Bankman-Fried, of defrauding investors.
According to lawyers, the basketball star has repeatedly evaded agents hired to deliver the documents in person. After a judge last week denied an attempt to serve notice to O’Neal via his official Twitter and Instagram accounts, Adam Moskowitz commented:
Mr. O’Neal’s conduct over the last 5 months to evade service in this action is unprecedented and frankly shocking.
The lawyer has previously called FTX “a massive Ponzi scheme” whose organizers enlisted the help of sports and entertainment figures to promote it. “A lot of people think I’m involved, but I was just a paid spokesperson for a commercial,” Shaq said in December.
The main crypto asset exchange collapsed in mid-November last year, amid liquidity problems. Former CEO Bankman-Fried and several other executives have been accused of running a large-scale financial fraud scheme. While some of them have pleaded guilty, he has denied more than a dozen fraud and conspiracy charges.
What do you think will be the outcome of the court case against the celebrities accused of promoting FTX? Share your thoughts on the subject in the comments section below.
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