A class action lawsuit has been launched against FTX’s former chief executive Sam Bankman-Fried over the crypto exchange’s collapse which also names as defendants a host of its celebrity backers including Larry David, Naomi Osaka, Gisele Bündchen and Shaquille O’Neal…

The lawsuit claims: “The Deceptive FTX Platform maintained by the FTX Entities was truly a house of cards, a Ponzi scheme where the FTX Entities shuffled customer funds between their opaque affiliated entities, using new investor funds obtained through investments in the YBAs and loans to pay interest to the old ones and to attempt to maintain the appearance of liquidity.

“Part of the scheme employed by the FTX Entities involved utilising some of the biggest names in sports and entertainment – like these Defendants – to raise funds and drive American consumers to invest in the [yield-bearing accounts], which were offered and sold largely from the FTX Entities’ domestic base of operations here in Miami, Florida, pouring billions of dollars into the Deceptive FTX Platform to keep the whole scheme afloat.”

*Article from “theguardian.com”

Free legal advice

A class action lawsuit was initiated in the US against FTX, their affiliated entities, CEOs, and promoters. Possibly more lawsuits will be initiated. If you are an injured party, in this case, you should not wait. Submit your claim via our DefendMe Platform at https://defendme.global/, specifically tailored to support victims in cases like this and be represented globally and to the highest standards. 

Kind Regards,

Zoran Miljakovic

Attorney at Law