Shaquille O’Neal Settlement Crypto FTX exchange for $ 1.8 million

Shakeel O’Neil It will pay seven numbers to settle a collective lawsuit against FTX, which was also called other prominent athletes.

O’Neal will pay $ 1.8 million after being accused of promoting Since the end of the encrypted currency As a good reputable investment option with confidence through paid approvals.

The legendary midfielder Tom Brady and the American Professional League star Stephen Carrey, as well as David Ortez, Shahi Utani, Naomi Osaka and Trevor Lawrence, were also named as parties that he controls, promoted, assisting and participating actively in the FTX and FTX US USA.

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O’Neill promoted the company in June 2022, but said he was “just a wage spokesman for a commercial advertisement.”

FTX was the third largest encrypted currency exchange, but it ended with billions of dollars in losses and had to search for bankruptcy protection. The company and the independent authorities were investigated by the federal and state authorities, allegedly investing the money of depositors in the projects without their approval.

Brady invested $ 30 million in FTX and was “ambassador” for the platform before the stock exchange extended in November 2022, causing money loss, according to a report issued by the New York Times last year.

The founder of FTX Sam Bankman-Fric is sentenced 25 years in prison. Judge Luis Kaplan said that he found that FTX customers had lost $ 8 billion, lost FTX stock investors $ 1.7 billion, and lended to the hedge fund in the Bankman-Fric research, lost $ 1.3 billion.

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Bankman-Fred was convicted in November 2023 on charges of fraud on wires and five conspiring after the collapse of his encrypted FTX in November 2022, which was compared to Enron. The Stock Exchange merged the assets with the Alameeda Research brother’s hedge box, amidst the cash problems, which leads to customer waves to withdraw money. The Bankman-Ried was charged next month.

It is also expected to be asked to ask the salaries of the bankman-fried, which has benefited from a rise in Bitcoin, and at one time an estimated 26 billion dollars has ordered the payment.

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Shortly after the encryption exchange, the Miami Heet Square, previously known as FTX Arena. O’Neal played four seasons with Heat, and won a championship in 2006.

Greg Norman, Susan Ouerran and the Associated Press, contributed to this report.

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