Shaquille O’Neal Named In Lawsuit For Promoting Disgraced FTX Crypto Currency

Shaquille O’Neal, a former NBA star, has been named in a lawsuit after endorsing FTX, a cryptocurrency exchange platform, which was accused of swindling money from clients and using it for personal gain. The lawsuit was filed by retail investor Edwin Garrison against FTX and its CEO, Sam Bankman-Fried, who filed for bankruptcy in November 2022.

Shaquille O’Neal Named In Lawsuit For Promoting Disgraced FTX Crypto Currency

Garrison’s attorney claims that Shaq was aware of FTX’s illegal activities but still endorsed the company, using his influence to lure investors. Shaq’s evasion of the lawsuit’s serve process has also been noted, raising further questions about his involvement with FTX and the extent of his responsibility in the matter.

Shaq’s Involvement with FTX Shaq first endorsed FTX in early February 2022 at the Super Bowl festival, Shaq’s Fun House. The endorsement proved successful, drawing a lot of attention to FTX. Later that year, he spread the good word about FTX on Twitter, offering a bonus code for new users who signed up.

Shaq described himself as a “paid spokesman for a commercial” and quickly retracted his association with FTX in an interview with the NBA. However, Garrison’s lawsuit alleges that Shaq’s association with FTX caused investors to lose millions of dollars, and he should be held accountable for his actions. Shaq reportedly dodged and evaded the serve process, making it difficult for Garrison’s attorney to contact him.

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Garrison’s Lawsuit Against FTX Edwin Garrison’s lawsuit alleges that FTX and its CEO, Sam Bankman-Fried, swindled money from clients and used it for personal gain, leading to the company’s bankruptcy. The lawsuit also names Shaq and other celebrities, including Tom Brady, Giselle Bündchen, Larry David, and Steph Curry, who endorsed FTX.

Shaq’s attorney denies the allegations, stating that Shaq was merely a paid spokesman and had no knowledge of FTX’s illegal activities. However, Garrison’s attorney argues that Shaq used his influence to lure investors, and he should be held accountable for his actions.

Conclusion

FTX and its CEO, Sam Bankman-Fried, are facing a lawsuit filed by retail investor Edwin Garrison, who alleges that the company swindled money from clients and used it for personal gain. The lawsuit also names Shaq and other celebrities who endorsed FTX, accusing them of using their influence to lure investors. Shaq denies the allegations and claims that he was merely a paid spokesman for the company. However, Garrison’s attorney argues that Shaq should be held accountable for his actions, as his association with FTX caused investors to lose millions of dollars.

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