FTX investors may drop claims against the company’s co-founder and former CEO, Sam Bankman-Fried, in return for his support.
Bloomberg reported on April 19 that, under a proposed settlement, Bankman-Fried would cooperate against celebrity promoters named as defendants in a $1.3 million civil lawsuit.
The civil case currently names celebrities as defendants, including former NFL quarterback Tom Brady, former NBA player Shaquille O’Neal, and supermodel Gisele Bundchen.
Plaintiffs allege that the celebrities brought them into a Ponzi scheme by promoting FTX.
SBF would provide information
To cooperate, Bankman-Fried would need to provide plaintiffs’ lawyers with details about entities related to FTX, including venture capital firms that invested in the exchange and accountants and lawyers that worked with the company during its operations.
He would also provide nonprivileged documents outlining his investments in the AI company Anthropic and an affidavit proving his negative net wort
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