Watch CBS News

Tom Brady, Gisele Bundchen and David Ortiz among celebrities sued over FTX crypto collapse

Tom Brady, Gisele Bundchen among celebrities sued over FTX crypto collapse
Tom Brady, Gisele Bundchen among celebrities sued over FTX crypto collapse 02:01

MIAMI - Tom Brady, Gisele Bundchen and David Ortiz are among the celebrities being sued over the collapse of crypto exchange FTX.

The lawsuit filed in Florida states that all three are brand ambassadors who "aggressively marketed the FTX platform," and therefore should be held liable. Brady and Bundchen, who recently announced their divorce, filmed a commercial as part of a $20 million ad campaign last year, the lawsuit states. It also notes that Ortiz starred in a World Series ad where FTX declared itself the official crypto exchange of Major League Baseball.

"The deceptive FTX platform maintained by the FTX entities was truly a house of cards," the proposed class-action lawsuit states.  

Other stars named in the lawsuit include Steph Curry, Shaquille O'Neal, Shohei Ohtani, Naomi Osaka, Larry David and Kevin O"Leary.

The entire crypto industry is on edge following the unraveling of Sam Bankman-Fried's FTX exchange and Alameda Research hedge fund, both of which filed for bankruptcy late last week. The lawsuit says consumers suffered over $11 billion in damages as a result of FTX's "fraudulent scheme."

Heavyweight lawyers Adam Moskowitz and David Boies filed the suit on behalf of an FTX customer, Edwin Garrison.

Moskowitz, a Florida lawyer, is also behind a class-action suit against crypto broker Voyager Digital, which also filed for bankruptcy earlier this year. And Boies is perhaps best known for representing Vice President Al Gore in 2000's Bush v. Gore.

In an email to CNN Business, Moskowitz alleged FTX was "a massive Ponzi scheme larger than the Madoff scheme."

"FTX were geniuses at public relations and marketing, and knew that ... [it] could only be successful with the help and promotion of the most famous, respected, and beloved celebrities and influencers in the world," Moskowitz wrote.

Representatives for Brady, Bundchen and Curry didn't immediately respond to CNN Business' request for comment.

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.