Shaquille O’Neal is named in a new lawsuit after fending off a lawsuit FTX filed against CEO and founder Sam Bankman-Fried.
Shaq Promotes Crypto Companies A Lot
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FTX crashed last November and then suddenly, Bankman-Fried filed for bankruptcy – 1 month later, he was arrested and accused of defrauding money from clients and using it to affiliate with a firm called Alameda Research for his own personal gain.
Before the company went under, Shaq was one of the supporters or in his words, a “spokesman”. In 2022 before the company went down, Shaq was spreading the good news about FTX. He is not the only one, many other celebrities have signed contracts to use their celebrity to lure potential investors.
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It worked! Bankman-Fried was rolling in the dough until he was caught slippin’. Specifically, Shaq promoted the company in June on Twitter and extended a code for new users to get some kind of bonus upon signing up.
“I’m working with @FTX_Official to help make crypto more accessible to everyone. We have a lot planned and let’s start with the bonus,” he tweeted.
Shaq Introduces Endorsement In Feb 2022
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He first confirmed the company in early 2022 in February during his Super Bowl festival, Shaq’s Fun House. The show was very successful and brought in a lot of points which might work well for FTX.
Shaq immediately retracted his relationship with FTX and in an interview with the NBA. “A lot of people think I’m involved [with FTX]but I am only a paid spokesperson for commercial advertisements,” he said.
But now Shaq is named in a class action lawsuit against FTX. Retail investor Edwin Garrison filed suit against FTX following Bankman-Fried’s bankruptcy and he named Shaq in the suit.
Shaq Uses Persuasion
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The lawsuit alleges that Shaq used his “persuasion” to encourage people to get on board but wonders if he knew what he was persuading people to do. The complainant had a hard time getting Shaq. The former Laker player allegedly dodged and evaded the service process accordingly Jasmine brand.
Attorney Garrison spoke to New York Post and said, “It is amazing what he has done [to] to avoid receiving our complaint.” He went on to say, “The irony is that the fact that he was admitted is probably the worst of any FTX brand ambassador.”
Garrison’s attorney also argues that Shaq has some of the biggest allegations against him in the suit and that he needs to be held accountable for them.
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As we mentioned above, Shaq isn’t the only celebrity to support FTX Tom Brady, Giselle Bündchen and Larry David are some of the other celebrities involved, and fellow basketball player Steph Curry is also helping out.
Garrison’s lawyer also explained that all these famous people were also named in the lawsuit and Shaq was not singled out, he was just an important factor, more so than other celebrities.
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Source: thtrangdai.edu.vn/en/
