Shaquille O'Neal got served process in May for being an ambassador for FTX which was involved in $10 billion fraud
After months of reportedly avoiding lawyers, Shaquille O'Neal was ultimately served for a case that involved the cryptocurrency entity called FTX. The legal procedure was completed in May inside what was once known as FTX Arena in Miami during the playoffs. Shaq was one of the analysts of “Inside the NBA” when he received the legal papers. O’Neal is one of several high-profile endorsers who were accused of defrauding investors following the collapse of the said company.
Process servers initially thought they had done their duty in April when they gave the legal papers to O’Neal in Georgia. Shaq’s attorneys, however, contended that the process wasn’t adequate as the serving didn’t meet the required process. The legal documents were reportedly thrown at the basketball Hall of Famer’s moving vehicle.
Shaquille O'Neal, Steph Curry, Tom Brady and Gisele Bundchen acted as spokespersons in separate commercials for FTX. Sam Bankman-Fried, FTX’s founder and CEO is facing serious accusations of financial crimes. It’s for this reason that O’Neal and the aforementioned celebrities were served the legal complaints.
Adam Moskowitz, the leading lawyer in the class action lawsuit against “SBF” and its celebrity spokespersons, said that O’Neal “hid” from process servers for months. It wasn’t until they cornered him at the Kaseya Center that they were able to complete the process.
For evidence, the serving team photographed and filmed the entire process. Shaquille O'Neal reportedly had the lawyer who served him ejected from the said arena.
Moskowitz later added:
“They gave video of most of the service —not all, so we would be shocked if they raise any problems. We also now served a copy on his lawyer Bobby Martinez, so there can be no doubt he is served!"
In December 2022, Shaquille O'Neal told CNBC that he was “just a paid spokesperson for a commercial.”
A month before O’Neal’s comments, FTX collapsed when its clients took back their investments and deposits following rumors of financial trouble. Sam Bankman-Fried has pleaded not guilty to the serious accusations filed against him.
Shaquille O'Neal appeared in FTX’s commercial due to his friendship with Steph Curry
Shaquille O'Neal appeared on CNBC to talk about his investments, including his involvement with FTX. In 2021, it didn’t look like he would have any part of the cryptocurrency world. He had this to say about his initial thoughts about the platform:
“I always get these companies that say, ‘Hey, we’ll give you $900,000 in crypto to send out a tweet.’ So I have to say, ‘OK, if you’re going to give me a million dollars worth of crypto, then why do you need me?’”
In June 2022, O’Neal appeared to have changed his mind in a commercial:
“I’m excited to be partnering with FTX to help make crypto accessible to everyone. I’m all in. Are you?”
A few months ago, Shaq said that it was his friendship with Golden State Warriors superstar Steph Curry that he agreed to appear in the commercial. Curry or his legal representatives did not comment on O’Neal’s claim.
Shaq summed up his involvement with FTX:
“People know I’m very, very honest. I have nothing to hide. If I was heavily involved, I would be at the forefront saying, ‘Hey.’ But I was just a paid spokesperson.”
Also read: Shaquille O'Neal was served FTX & NFT lawsuits while broadcasting Game 4 of Heat-Celtics series