Former NBA superstar Shaquille O’Neal is among the celebrities caught up in a class-action lawsuit involving the bankrupt cryptocurrency exchange FTX. The class-action lawsuit accuses FTX founder Sam Bankman-Fried and other public figures and celebrity endorsers, like Tom Brady, Gisele Bundchen, and Steph Curry, among others, of defrauding investors by promoting unregistered securities. With all the high-profile celebrities involved in the scam, Taylor Swift and her father’s name came to light recently and Elon Musk had something to say about it. 

The law firm representing the case had been trying to serve O’Neal for months with no success, as the basketball legend managed to allegedly evade the servers sent to deliver the legal complaints to him. However, after several attempts, they were finally successful recently. Days after Shaq was served, it was revealed how Taylor Swift managed to evade the trap of the $8.9 billion scam. Elon Musk weighed in on the matter as well. 

Elon Musk calls Taylor Swift smart

Taylor Swift’s name was also recently revealed to be connected to FTX, with the singer allegedly being offered $100 million to promote the exchange. However, she was able to dodge the bullet by asking whether these were unregistered securities, according to Adam Moskowitz, a lead attorney of the lawsuit against FTX endorsers. 

In the midst of the chaos, Elon Musk shared his opinion on the matter by tweeting, “I’m not surprised. Taylor is smart, and her father is a well-regarded investment banker.”

Shaq was being accused of promoting FTX and essentially defrauding people who opted to invest in the exchange. However, the former LA Lakers star has denied any wrongdoing and stated that his promotion of the company came from being a spokesperson in a commercial.

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The law firm behind the case has been attempting to contact Shaq for some time now, but he had managed to evade them until recently, when they were able to serve him outside his home.

The alleged involvement of celebrities in FTX’s scam

FTX filed for Chapter 11 bankruptcy last year after it was unable to meet the withdrawal demands of its users. A report revealed that the exchange had used customer funds to fuel investments in its co-owned trading firm Alameda Research.

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According to Moskowitz, most celebrities and influencers, who partnered with FTX were likely motivated by greed. He has alleged that the celebrity endorsers helped peddle a “Ponzi scheme” that affected thousands, if not millions, of consumers nationwide. It remains to be seen how the case will unfold, but it’s clear that the fallout from FTX’s collapse continues to impact those involved with the exchange.