Plaintiff Edwin Garrison has filed a class action lawsuit against celebrity promoters and now-bankrupt crypto exchange FTX, including Tom Brady, Gisele Bundchen, Stephen Curry, Kevin O’Leary, the Golden State Warriors, and Shaquille O’Neal, Larry David, seeking to recover damages.
The suit was filed in U.S. District Court for the Southern District of Florida. The Oklahoma resident is representing himself and all other class members in the class action suit.
Plaintiff claims to have purchased a yield-bearing account from FTX, and the lawsuit claims that FTX and ex-CEO Sam Bankman-Fried, who is also named as a defendant, used celebrity endorsers to target “unsophisticated investors” in a “Ponzi scheme” to keep the crypto exchange afloat.
“Everyone involved in the Voyager Bankruptcy Cases thought that the FTX Entities were the deus ex machina come to save the day by bailing out Voyager and paying back at least some of the losses the Voyager customers sustained,” says the document shared with the Crypto Times.
The suit also claimed that their “misrepresentations and omissions” made them liable following FTX’s collapse.
This isn’t the first time celebrities have been scrutinized for cryptocurrency advertisements.
