Naomi Osaka could avoid the FTX trial

Naomi Osaka and the former NBA star Shaquille O'Neal could avoid being held liable in class action lawsuit against cryptocurrency exchange FTX due to failure to notify

by Lorenzo Ciotti
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Naomi Osaka could avoid the FTX trial

Naomi Osaka and the former NBA star Shaquille O'Neal could avoid being held liable in class action lawsuit against cryptocurrency exchange FTX due to failure to notify. The lawsuit against the promoters of FTX will proceed as planned.

Judge Kevin Moore indicated that the lawsuit will proceed as planned as defendants, such as Tom Brady, Gisele Bündchen, Kevin O'Leary and Trevor Lawrence, among others. They are not the ones who should be requesting a postponement of the conference.

The actors, who have not yet done so, are solely responsible for that request. On March 8, the judge denied a request to consolidate other lawsuits against FTX, arguing that the defendants have not yet appeared to answer for their crimes.

As reported by Cryptopath, Sam Bankman-Fried's lawyers may be planning to request a change to the trial date due to a lack of evidence of his involvement in the million-dollar FTX scam and the accumulation of four new fraud charges and money laundering.

According to the order issued on March 9, US District Judge Kevin Moore said it was unclear whether O'Neal and Osaka were notified of the lawsuit. Thus, the judge asked the plaintiffs to explain why sports stars shouldn't be fired from the lawsuit.

Naomi Osaka could avoid FTX trial

Shaquille O'Neal and Naomi Osaka, along with other sports stars and TV actors, could be accused of promoting a fraudulent scheme through cryptocurrency exchange FTX to take advantage of retail investors with little knowledge of the cryptocurrency world.

Other celebrities accused of fraud include NFL superstar and seven-time ring winner Tom Brady, who acquired a significant stake in FTX and became partners in a firm through a media deal in which he and his wife have provided support to promote the platform, Bloomberg reported.

Brady received 1.1 million FTX shares, with a market value of approximately $45 million. At the same time, his wife received about $ 25 million in stock. Both investments became nearly worthless overnight with the collapse of the empire of Sam Bankman-fried, who is under house arrest awaiting trial on multiple charges of financial fraud related to the bankruptcy of FTX and its subsidiaries, including the trading company Alameda Research.

Unlike Brady, a well-known cryptocurrency enthusiast and promoter, Shaquille O'Neal said he is merely a paid spokesperson and does not share the same passion for cryptocurrencies as the other stars. You even went so far as to say in 2021 that cryptocurrencies sounded too good to be true.

Naomi Osaka
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