Basketball legend Shaquille O’Neal finds himself entangled in legal troubles yet again. During Game 4 of the NBA’s Eastern Conference Finals, O’Neal was served legal papers related to the FTX class action lawsuit at the Kaseya Center in Miami. This marks the latest development in legal battles surrounding the former FTX spokesperson.
Last month, O’Neal had claimed that process servers resorted to unorthodox methods, throwing papers at his moving vehicle and failing to serve him officially. However, a process server went to great lengths to deliver the papers this time. By purchasing a ticket to the Miami Heat vs. Boston Celtics game, the server seized the opportunity to approach O’Neal while he was providing commentary from a platform in the arena.
Not only was O’Neal served with papers related to the FTX case, but he was also confronted with a new lawsuit concerning the Astrals Project, an NFT venture involving 3-D avatars. Attorney Adam Moskowitz, representing FTX investors, filed the new lawsuit in a Florida district court, alleging that O’Neal violated securities laws by selling unregistered securities. In response, O’Neal reportedly had the process server ejected from the arena.
The FTX lawsuit implicates O’Neal, alongside several other celebrities and sports teams, for their roles in promoting the now-bankrupt crypto exchange. O’Neal’s initial support for FTX was so significant that the company even bestowed upon him the nickname “Shaqtoshi,” drawing a parallel to the pseudonymous creator of Bitcoin, Satoshi Nakamoto.
Nevertheless, O’Neal has distanced himself from FTX since the company’s collapse. He clarified that his involvement was limited to being a paid spokesperson for a commercial, disassociating himself from any responsibility for the company’s demise.
Meanwhile, former FTX CEO Sam Bankman-Fried has pleaded not guilty to criminal fraud charges, while three other executives from the company have pleaded guilty in federal court. The ongoing legal battles surrounding FTX continue to unfold, casting a shadow over the cryptocurrency industry and the individuals who were once involved.
Shaquille O’Neal’s involvement in the FTX class action lawsuit takes a new turn as he is served with legal papers during an NBA playoff game. Including a new lawsuit concerning the Astrals Project further complicates O’Neal’s legal predicament. As legal battles ensue, the fallout from FTX’s collapse continues to ripple through the crypto world, leaving a lasting impact on the reputations of those involved.