Shaquille O’Neal Finally Served In FTX Lawsuit

Apr 17, 2023

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The four-time NBA champion has been evading the process servers for several months.

O’Neal Served

Shaquille O’Neal with a lawsuit alongside FTX founder Sam Bankman-Fried and other celebrity spokespeople. They are being accused of defrauding FTX investors. The lawyers for the plaintiffs have been attempting to serve O’Neal for the past three months, but he has been avoiding them.

Finally, he was served outside his Atlanta home and the process was recorded by his security cameras. His lawyers have been warned not to destroy or erase any of the security tapes. The former NBA star was the final defendant to be served in the lawsuit.

Charges

The lawsuit alleges that FTX collapsed because it transferred customer money between affiliated entities, using new investor funds and loans to pay interest on old ones to give the impression of liquidity.
The lawsuit requires O’Neal to appear in federal court and explain his false advertising campaign for FTX. The lawyers claim that he was a paid spokesperson for a commercial and had no involvement beyond that.

Denying Any Involvement

O’Neal has denied any involvement in FTX beyond his sponsorship deal. According to the law firm, O’Neal has been avoiding the process servers for the past three months. The lawyers tried to reach O’Neal through social media but did not receive a response.

We represent thousands of FTX victims who lost their savings in the massive FTX fraud. We have been standing outside your TNT studios in Atlanta all week, but your security guards will not let us in, to just hand deliver our legal complaint.

— The Moskowitz Law Firm (@moskowitzesq)

The former NBA star has a relatively public life as a DJ, a show host, and his own podcast, but he has been evading the lawyers’ attempts to serve him for months. O’Neal, who was dubbed “Shaqtoshi” in an FTX commercial, is among several celebrities facing the lawsuit for promoting the fraudulent scheme.

Celebrity Spokespeople

FTX enlisted several famous celebrities, including Shaquille O’Neal, Tom Brady, and Larry David, to promote their fraudulent scheme. The lawyers claim that the involvement of celebrities and influencers was necessary for the Ponzi scheme to succeed.

The class-action lawsuit against FTX founder Sam Bankman-Fried, O’Neal and other celebrity spokespeople has been filed by an FTX customer in the U.S. District Court for the Southern District of Florida. The case is being handled by lawyers Adam Moskowitz and David Boies.

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