A category motion lawsuit in opposition to big-name celebrities who promoted bankrupt FTX together with Shaquille O’Neal, Tom Brady and Naomi Osaka has garnered cooperation from a former govt, in response to a latest court docket filing.
Former FTX Chief Compliance Officer Daniel Friedberg supplied proof tying Florida to the celebrities, in response to legal professionals representing the plaintiffs.
“Primarily based upon this new, intensive proof, there seems to be no state that has extra connections to the FTX Model Ambassador Defendants than the state of Florida,” legal professionals for the plaintiffs mentioned within the court docket submitting on Thursday.
Florida is essential because the lawsuit was filed within the U.S. District Court docket within the Southern District of Florida, although the defendants have mentioned the court docket “lacks particular private jurisdiction over them” and that they do not have a connection to the state, in response to the submitting.
From the start
The category motion lawsuit was first filed in November, days after FTX had introduced that it filed for a Chapter 11 chapter.
The lawsuit claimed that 12 celebrities misled prospects and engaged in misleading practices to promote FTX yield-bearing digital foreign money accounts.
The suit alleged that “American shoppers collectively sustained over $11 billion {dollars} in damages,” amid the collapse.
Legal professionals laid out FTX’ connections to Florida within the grievance, together with that it organized “its worldwide headquarters positioned right here in Miami, Florida.”
Former FTX CEO Sam Bankman-Fried is dealing with legal and civil prices within the US.
Most lately, he asked a New York choose to dismiss a lot of the legal prices introduced in opposition to him calling a few of these prices “dramatic.”
Bankman-Fried has been charged with eight legal prices, together with wire fraud and conspiracy to commit financial institution fraud.
His legal professionals requested for prices reminiscent of conspiring to commit wire fraud on FTX prospects, financial institution fraud conspiracy, illegal political contributions amongst others to be dismissed.
Bankman-Fried is dealing with greater than 100 years in jail for his alleged crimes.
