Tom Brady and Gisele Bundchen Sued Over Collapsed Crypto Company FTX
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In addition to the newly divorced couple, investors sue the bankrupt company's ex-CEO Sam Bankman-Fried and celebrity endorsers including David Ortiz, Steph Curry, Naomi Osaka and Shaquille O'Neal.

AceShowbiz - Tom Brady and Gisele Bundchen are now roped into a legal battle together. The newly divorced couple has been named as defendants in a lawsuit filed by investors over collapsed crypto company FTX.

FTX investors filed the paperwork late Tuesday, November 15 in Miami. They sued the collapsed company's ex-CEO Sam Bankman-Fried as well as several celebrities who have endorsed the platform. Among famous names mentioned in the lawsuit were Tom, his ex-wife Gisele, David Ortiz, Steph Curry, Naomi Osaka, Shaquille O'Neal, Larry David, Kevin O'Leary, Trevor Lawrence and Udonis Haslem.

"The deceptive FTX platform maintained by the FTX entities was truly a house of cards," the proposed class-action lawsuit stated, "A Ponzi scheme where the FTX Entities shuffled customer funds between their opaque affiliated entities, using new investor funds obtained through investments in the YBAs and loans to pay interest to the old ones and to attempt to maintain the appearance of liquidity."

It continued, "Part of the scheme employed by the FTX Entities involved utilizing some of the biggest names in sports and entertainment … pouring billions of dollars into the Deceptive FTX Platform to keep the whole scheme afloat."

When the crypto exchange faltered on liquidity concerns, the investors sustained $11 billion in damages, the lawsuit alleged. The proposed class action also pointed out that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the U.S.

The lawsuit came as Sam, the self-exiled dethroned king of crypto, hides out in the Bahamas, where he went on a foul-mouthed rant about regulation amid calls for an investigation in Washington.

Sam, who has often voiced support for oversight of the unregulated crypto markets, changed his tune during an extended Twitter conversation late Tuesday night with Vox. Vox's Kelsey Piper asked him if his previous comments to her that some regulation would be good were just a public relations ploy. "Yeah just PR," he replied. "F**k regulators. They make everything worse. They don't protect customers at all."

Sam, whose net worth was valued as high as $17 billion at one point, is now broke. A shocking fall from grace for someone once widely hailed as a genius in the cryptocurrency industry.

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