Shaq Served Notice in Case Against FTX Promoters – Crypto Exchange Seeks Bankruptcy

Lawyers representing FTX investors have managed to serve former NBA star Shaquille O’Neal a legal notice in a class-action lawsuit against the promoters of the failed crypto exchange. The suit alleges that Shaq, other celebrities and the platform’s CEO schemed to defraud people who put money into FTX.

Shaquille Given Notice in Court Case Against FTX Investors Outside Home

After a series of attempts in recent months, legal reps of a group of FTX investors have been able to serve Shaquille O’Neal in a case against the various celebrities who endorsed the crypto exchange. FTX was one of the largest platforms before filing for bankruptcy.

The Moskowitz Law Firm confirmed on Monday that plaintiffs in the class-action suit served Shaq outside his house, and that his home security cameras recorded the event.

UPDATE: Plaintiffs in the billion $ FTX class action case just served @SHAQ outside his house. His home video cameras recorded our service and we made it very clear that he is not to destroy or erase any of these security tapes, because they must be preserved for our lawsuit.

— The Moskowitz Law Firm (@moskowitzesq) April 17, 2023

Court records show Shaq was the last of the celebrities named in the case, including Tom Brady, Gisele Bündchen and Stephen Curry, to be served. The lawsuit accuses them, along with FTX founder Sam Bankman-Fried, of deceiving investors.

The attorneys declared that the basketball star had repeatedly avoided people hired to serve the documents in person. After an effort to serve the notice to O’Neal on his Twitter and Instagram accounts was rejected by a judge last week, Adam Moskowitz remarked:

Mr. O’Neal’s conduct over the last 5 months in evading service in this action is unprecedented, and frankly shocking.

The attorney had earlier referred to FTX as “a massive Ponzi scheme” which its organizers attempted to market with the help of sports and entertainment stars. “A lot of people think I’m involved, but I was just a paid spokesperson for a commercial,” Shaq was reported as saying in December.

The major cryptocurrency exchange crashed in mid-November, last year, due to liquidity problems. Former CEO Bankman-Fried and several other executives have been charged with operating a massive financial fraud. While some of them have pleaded guilty, he has denied over a dozen counts of fraud and conspiracy.

What do you think will be the outcome of the court case against the promoters of FTX? Feel free to share your opinion in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Apart from crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.