The NBA legend Shaquille O’Neal agrees to pay $ 1.8 million to improve a suits action brought by investors to crumble Crypto exchange FTX, according to Many Media Report This week.
Investors say O’Neal cheated on them by appearing in ads for crushed cryptocurrency exchanges. Payout is about $ 1 million more than $ 750,000 O’Neal has been reportedly paid for his role in a commercial FTX.
The former basketball star is among many celebrities, including Tom Brady and Larry David, who are judged to advance the exchange before it falling in late 2022.
O’Neal maintains that he is a simple paid actor in ad, saying After the exchanging he was “just a paid speaker for a commercial.”
If the negotiation is approved, the O’Neal will be released from all future claims tied to the lawsuit. He will not be allowed to look for a repayment from the FTX Bankruptcy Estate and does not have to admit any mistake, according to a CNBC report.
The lawsuit was filed on behalf of FTX users who deposited funds between May 2019 and late 2022, before the company’s dramatic failure.
FTX founder Sam Bankman-Fried, is penalized 25 years in prison For fraudulent customers and investors. His sentence may Cut for more than four years.
