Shack Oker deals with a settlement with FTX investors to promote a failed encryption exchange

Shakeel O’Neill has reached a settlement agreement with a group of FTX investors who accused him of enabling the failed encryption fraud by acting as a famous promoter, according to a file to the court.

The details of the settlement agreement have not been revealed, including the amount that O’Neal will pay. Persons on the case seek up to $ 21 billion, as total compensation from ONEL, other promoters, former executives and other informed.

The former basketball pole that turned into business was just one of a group of famous promoters who were called a collective work suit. Other athletes were named, including tennis Naomi Osaka, the baseball player, Shuhai Otani, basketball player Steve Carrie and retired football player Tom Brady as defendants, along with comedian Larry David, shark Star Kevin Olyer, and Giselle Bondchen.

Although O’Neal is the first major defender in the case to settle on Wednesday, seven other celebrities and former executives reached a settlement agreement with investors in 2023, including midfielder Jaguars Trevor Lawrence, Youtubs Tom Nash, Graham Stephan and Andrei Jikh. The first segment of the settlements was relatively small, with a total of $ 1.4 million.

O’Neal leveling with FTX Investors is not the first associated with an upgrade failed project. Last year, O’Neal and many of his partners agreed to pay $ 11 million to the NFT distinguished code (NFT) who lost money in the Solana project that he promoted.