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Report: Mercedes F1 and MLB Teams Help FTX in Conducting Fraud Vid Deals
A group of FTX users has filed twin class-action lawsuits in a Florida district court, accusing the Mercedes-AMG Petronas F1 Team and Major League Baseball (MLB) of complicity in FTX’s alleged “massive, multibillion-dollar global fraud”.
The suits, filed on November 27, claim that both entities aided or actively participated in the fraudulent activities of FTX Group. The lawsuits also allege the promotion of unregistered securities. In 2021, both Mercedes F1 and MLB entered promotional deals with FTX, prominently displaying the exchange’s logo on various platforms, including cars, uniforms, hats, and other materials. The class complaint filing notes:
“The centerpiece, and most important feature, of the partnership, however, was the inclusion of FTX.US patches on all MLB umpire uniforms. The FTX.US patches marked the first time in the history of MLB, which dates back to the 1800s, that a spons
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