In my last special episode, I talked about FTX crypto exchange founder, Sam Bankman-Fried's, arrest in the Bahamas and the list of charges from the Department of Justice, SEC and CFTC. SBF is not the only one in legal jeopardy. Celebrities Tom Brady (geez, he's had a BAD year, huh?), Larry David and Kevin O’Leary are on the wrong side of legal action, as well. I talked about this legal angle on the 12-15-2022 episode of Yahoo Finance LIVE.
Days after SBF filed for FTX bankruptcy, attorney Adam Moskowitz of The Moskowitz Law Firm, a South Florida litigation boutique, and Boies Schiller Flexner filed actions in Miami federal and state court against Bankman-Fried and celebrity promoters of the exchange.
The federal class action suits allege that FTX’s yield-bearing accounts (YBAs), which pay interest on crypto holdings, were actually unregistered securities in violation of both state and federal securities laws and that celebrities who promoted them should therefore be on the hook for investor damages.
SAFETY DISCLAIMER: There are a LOT of scammers out there on social media impersonating me and other crypto educators and trailblazers and I need your help. Now hear this. I will never slide into your DMs to say “peace and blessings” or hey. And I will never reach out to solicit your time or your money. Like. EVER. So be careful and make good choices! FYI, I developed an entire FREE masterclass about the topic, so check out SecureYourCryptoBag.com for more information.
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Regulate & The Rabbit Hole by Notty Prod licensed via Creative Commons Attribution-NoDerivatives 4.0 International License. Produced by Tonya M. Evans for Advantage Evans, LLC