Former American Professional League player Shakil O’Neill will pay $ 1.8 million to settle a collective lawsuit related to the death of the encrypted currency FTX.
O’Neill, and other celebrities such as Tom Brady and Stephen Carrey, have been namedsuitIn 2022, they were accused of documenting FTX as a good reputable investment option with confidence through paid approvals. The proposed settlement relates only to aanil.
Three years ago, FTX was the third largest exchange of encrypted currency, but it ended with billions of dollars in losses and had to do soDiscipline protection request. The company that is based in the Bahamas island and its founder,Sam Bankman Al -Muqali,It was investigated by the federal and state authorities for allegedly investing the money of depositors in the projects without their approval.
Before its failure, it was known that FTX was using prominent Hollywood celebrities and athletes to promote its products. She had the rights of the Formula One race as well as aSports arenaIn Miami. Her creative commercial ads included “Sinfeld” Larry David, as well as Brady, former midfielder in Tamba Bay Boucaclics, New England Patriciots, basketball players Unal, Carrie and tennis star Naomi Osaka.
It was the fried bankHealTo 25 years in prison in March 2024, a little more than a month later,FTXHe said in one of the court files that almost all of its clients would get the money they were impossible.
While the proposed settlement was agreed with O’Neal in April, the payment amount and other conditions were revealed in a file to the US District Court, South Florida Province, the Miami division, earlier this week.
The settlement category includes any person who deposits money in FTX or bought their FTT code between May 2019 and late 2022.
The agreement, which still needs the approval of the court, will provide O’Neal with a wide version of future claims and also includes a condition that cannot be requested from FTX.
Pay within 30 days of completion of the settlement, according to the submission of the deposit.
This story was originally shown on Fortune.com
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