The FTX organization’s stories are not new now. The innvestigation team has been working for proper evidence behind FTX. Finally, FTX’s founder Sam Bankman-Fried, arrested after analyzing the entire situation.
In a statement released on Monday, the government of the Bahamas confirmed that Sam Bankman-Fried, the founder of the defunct cryptocurrency exchange FTX, had been detained there after the filing of felony convictions against him by US authorities.
FTX founder Sam Bankman-Fried arrested in Bahamas https://t.co/j335gnx5ox
— BBC News (World) (@BBCWorld) December 13, 2022
On Twitter, the Southern District of New York announced Bankman-arrest Fried’s as part of its investigation into the demise of FTX and its sibling trading business, Alameda.
“Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the US government, based on a sealed indictment filed by the SDNY,” US attorney Damian Williams stated. “We expect to move to unseal the indictment in the morning and will have more to say at that time.”
The Royal Bahamas Police Force stated in a statement that Bankman-Fried was taken into custody without violence on Monday at about 6 p.m. ET from his Nassau apartment complex. He is scheduled to make a court appearance on Tuesday.
Shaq, Tom Brady and Steph Curry are among many high-profile celebrities getting sued for promoting FTX crypto exchange. https://t.co/mTTBh3W81H
— Complex (@Complex) November 16, 2022
Many famous faces were connected to FTX. They included such notables as Tom Brady and Steph Curry.
A class action complaint has been filed against Yuga Labs, the parent company of the Bored Ape Yacht Club (BAYC) NFT series, and it names Golden State Warriors superstar Stephen Curry as a plaintiff.
Last Monday, investors Adonis Real and Adam Titcher filed a 95-page case in federal district court in Los Angeles. The lawsuit claims that investors suffered “staggering losses” because celebrity endorsement inflated interest and value in BAYC NFTs.
Numerous celebrities have been named in a class action lawsuit for promoting their Bored Ape Yacht Club NFT without disclosing to consumers they were being paid to do so.
When will they learn?
The complete list of defendants is listed below in the Complaint caption. pic.twitter.com/cL8IE9Q1YU
— Ariel Givner, Esq. (@GivnerAriel) December 9, 2022
The lawsuit alleges various violations of federal securities law, as well as unfair competition, unjust enrichment, and consumer law violations, aiding and abetting, and civil conspiracy. Real and Titcher are seeking at least $5 million in damages, as well as a court hearing for themselves and others who are “similarly situated.”
The team had previously canceled its “first-of-its-kind” cryptocurrency agreement with FTX, taking down all FTX-related advertisements and advertising from Chase Center.
