Attorney Adam Moskowitz recently revealed that Taylor Swift was the only celebrity to have done due diligence before a potential deal with cryptocurrency exchange FTX. The US-based crypto firm has since gone bankrupt and Moskowitz has since initiated a $5 billion class action lawsuit targeting sixteen people associated with the company who, according to him, promoted the sale of unregistered securities.
Besides pro basketball legend Shaquille O'Neal, football star Tom Brady and sitcom “Seinfeld” creator Larry David are also being targeted in the lawsuit. Releasing details in an episode of The Scoop podcast with Frank Chaparro, Moskowitz highlighted that Swift "actually asked them, 'Can you tell me that these are not unregistered securities?'" As the partnership never materialized, it is speculated that Taylor avoided a huge financial hit.
The class-action lawsuit is based upon a particularly broad Florida law that forbids the promotion of unregistered securities and does not require intent to deceive in order to be held liable. It started off in March 2021 with Binance, the world’s largest crypto exchange, being targeted in the case followed by Voyager Digital and now FTX.
Shaquille O’Neal has spent the last few months evading the legal notice being served against him. Moskowitz sent a civil complaint even to his deputy’s office where he serves as a sheriff in Central Florida to no avail. Despite being a fixture of “The NBA on TNT” and a touring DJ, Moskowitz described his attempt to serve O'Neal as “the largest man on the planet, we can’t serve.”
In the light of the lawsuit, Adam Moskowitz has requested people to be mindful while endorsing crypto companies. He noted that it is baffling how influencers take a chance and promote cryptocurrency that could be an unregistered security. Moskowitz concluded by stating that it is impossible to go after a thousand people so they had to start with the biggest names first.
The episode of The Scoop featuring Adam Moskowitz will be released on 19th April at 5 am ET.
Connor Jimenez
- 2023-04-19
Taylor Swift Was the Only Celebrity to Do Due Diligence in FTX Deal
Attorney Adam Moskowitz recently revealed that Taylor Swift was the only celebrity to have done due diligence before a potential deal with cryptocurrency exchange FTX. Moskowitz has initiated a class action lawsuit targeting sixteen people associated with FTX for promoting the sale of unregistered securities.
