NBA Hall of Famer Shaq Served in FTX Investor Suit – After numerous failed attempts in the past months, lawyers representing a group of FTX investors have finally succeeded in delivering a lawsuit against several celebrities who endorsed FTX, including Shaquille O’Neal. FTX was once one of the biggest cryptocurrency exchanges before it declared bankruptcy.
According to a tweet from the Moskowitz Law Firm that was reported by CNN, Shaq was served with the class-action lawsuit by the plaintiffs outside his residence. The lawyers further noted that the service was captured by the surveillance cameras installed at his home. Based on court records, Shaquille O’Neal was the final celebrity to be served a legal notice in the case, joining other prominent names such as Tom Brady, Gisele Bündchen, and Stephen Curry.
The lawsuit alleges that they, along with FTX founder Sam Bankman-Fried, engaged in fraudulent activities that harmed investors. The legal representatives have stated that the basketball icon has consistently avoided the agents tasked with delivering the legal papers to him in person. After an attempt to serve the notice to O’Neal via his official Twitter and Instagram accounts was denied by a judge last week.
Adam Moskowitz commented: “Mr. O’Neal’s conduct over the last 5 months in evading service in this action is unprecedented, and frankly shocking.” The attorney has previously called FTX “a massive Ponzi scheme” the organizers of which 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 was quoted as saying in December.
In November of last year, the major cryptocurrency exchange experienced liquidity issues and ultimately collapsed. Former CEO Sam Bankman-Fried and other executives have been accused of orchestrating a significant financial fraud operation. While some of the individuals have admitted guilt, Bankman-Fried has denied more than a dozen charges of conspiracy and fraud.