The netizens share their concerns for the former NFL star, Tom Brady, who might fall into the target of the a-class action lawsuit, along with other top-listed celebrities.
Sam Bankman-Fried, the founder of the FTX crypto currency exchange company, had been found guilty of his involvement in a Ponzi scheme. Allegedly, the victims of the scam demand legal action against this defamation and everyone associated with it.
Is Tom Brady going to be in trouble for $10 billion FTX crypto scam?
The former NFL QB Tom Brady had to face some legal troubles for his involvement with FTX. FTX was a cryptocurrency exchange company that was accused of deception and bankruptcy. When Brady became the ambassador for his long-term friend Bankman-Fried’s cryptocurrency exchange company, he likely thought that it would be a very profitable deal and did not see the shortcomings. But unfortunately, it costed him a lot of money, including expensive legal battles and PR nightmares.
On Thursday, Nov 2, Bankman was convicted guilty for wire fraud, securities fraud, and money laundering and is about to face 110 years prison sentence. Now the investors who lost billions due to the collapse of FTX, blame not only Bankman but also celebrities who were paid to sponsor it, along with the bankers, accountants and lawyers who associated FTX.
Tom Brady had a $55 million deal with FTX. The company collapsed last November. On Thursday, FTX co-founder Sam Bankman-Fried was convicted on federal fraud and money laundering charges. Brady had an eminent role in advertising the company, since he was an NFL player, he was able to capture a lot of public attention which ultimately brought a huge number of investors for FTX. In exchange, Brady received $55 million in FTX stock, and his ex-wife Gisele Bundchen received $19.8 million. This means the former football player can actually be in trouble for his assessment with Fried.
Investors widens to Implicate Celebrities ft. Shaquille O’Neal
Fried used the celebrities to lure investors through various ads and pictures where he can be seen socializing with the stars. People got easily convinced when they saw so many celebrities involved in it and invested in FTX immediately.
So, the flashy advertisements that featured Tom Brady and his ex-wife supermodel Gisele along with other celebrities such as, comedian Larry David, basketball star Shaquille O’Neal, comedian and talk show host Jimmy Fallon, Steve Harvey, comedian and TV host- were presented to the jury for the trial against Bankman.
Meanwhile, Chiefs TE Travis Kelce’ girlfriend Taylor Swift nearly avoided signing a $100 million sponsorship deal with FTX due to Swift doing her due diligence.
On the other hand, lawyers of the celebrities countered the incident claiming it has no basis as the ads and the sponsorships did not ask or encourage the viewers to deposit their money with FTX. The lawyers further said that, the celebrities were not involved with the misappropriation and mismanagement of the funds done by FTX.
Since many of these celebrities even invested their own money in FTX, they have claimed that they were also “victims” of this fraudulency.
Do you think Tom Brady should be charged with the FTX scam? Make sure to tell us what you think in the comments section.