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Shakeel O’Nell Will pay seven figures to settle the class-carriage trial against FTX, who also named other high-profile athletes.
O’Neel paid $ 1.8 million when he was accused Since defunct cryptocurrency As a reputed and reliable investment option through paid endorsement.
Legendary NFL Quarterback Tom Brady and NBA Star Stephen Curry, as well as David Orties, Shohi Ohtani, Naomi Osaka and Trevor Lawrence were also nominated in suits, “as parties” which either controlled, promoted, support and actively FTX Trading and FTX You are repatriated.
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Shakeel O’Neel runs on the grid before the USA’s F1 Grand Prix in the USA circuit in Austin, Texas on 24 October 2021. (Jared C. Tilton / Getty Images / Getty Images)
O’Neel promoted the company in June 2022, but said he was “a paid spokesperson for a commercial.”
FTX was the third largest cryptocurrency exchange, but it ended with a loss of billions of dollars and had to look for bankruptcy security. The company and the bankman-fride investigated the funds of the depositors by state and federal officials to invest in undertakings without their approval.
Brady invested $ 30 million in FTX and was an “ambassador” for the platform, before the exchanges had a belly-up in November 2022, losing money, according to the New York Times report last year.
FTX founder Sam Bankman-Fride was sentenced 25 years in jailJudge Lewis A. The couple said they found that FTX customers had lost $ 8 billion, FTX’s equity investors lost $ 1.7 billion, and the Almeda Research Hedging Hedge In the Fund Bankman-Fride established.
Former FTX chief Sam Bankman-Fride leaves the federal courthouse after a bail hearing before his October trial in New York City on 26 July 2023. (Through Angela Weis / AFP Getty Image / Getty Image)
After the collapse of its Crypto Empire FTX in November 2022, in two cases of wire fraud and five cases, the bankman-fride was found guilty, compared to Enron. The exchange merged property with sister Hedge Fund Almeeda Research amid cash problems, to withdraw money to the leading waves of customers. The next month, Bankman-Fride was convicted.
Bankman-Fride, who increased bitcoin and accumulated an estimated $ 26 billion at one point, will also be ordered to pay restoration.
Former FTX CEO Sam Bankman-Fride comes to the Manhattan Federal Court in New York City on August 11, 2023 for bail hearing. (Michael M. Santiago / Getty Images / Getty Images)
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Immediately after entering under the Crypto Exchange, the Miami Heat’s Arena, who was previously known as FTX Arena, was named. O’Neel won the championship in 2006 and played four seasons with Heat.
Fox Business’ Greg Norman, Suzanne O’Holoren and Associated Press contributed to the report.
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