Home Crime Ex-FTX compliance chief confirms celebrity promotional activity originated in Florida

Ex-FTX compliance chief confirms celebrity promotional activity originated in Florida

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According to May 11, former FTX.US chief compliance officer Daniel Friedberg has provided evidence that a promotional campaign involving celebrities began in Florida. Court submission.

The new development marks a milestone in a class-action lawsuit seeking billions of dollars in damages from FTX and the celebrities who promoted it for losses suffered by investors in the exchange’s bankruptcy. . Mr. Friedberg is one of the defendants in lawsuits related to FTX.

Plaintiffs allege that the exchange colluded with celebrities to sell unauthorized securities under the guise of interest-bearing accounts without registration. They further argue that under Florida law, those who promote unregistered securities are liable for the loss of their customers.

Many of the high-profile defendants in the lawsuit said FTX wouldn’t move to Florida until late September 2022, and the agreement was made long before that, so the Miami courts don’t have jurisdiction over the claims. I have filed a motion to dismiss on these grounds.

But Friedberg’s evidence suggests otherwise, and may undermine the defense’s arguments in court.

hard evidence

According to amended filings, Mr. Friedberg’s sworn testimony proves that FTX’s former vice president of business development, Avinash “Avi” Dabeer, began operations from FTX’s physical organization.
We will open an office in Miami, FL in early 2021. ”

Davil is responsible for managing the exchange’s brand ambassadors, among them a number of high profile defendants including Larry David, Shaquille O’Neal, Tom Brady, Gisele Bundchen and NBA team Golden State Warriors. was included.

Plaintiffs argued that Mr. Friedberg’s testimony should be included in the official evidence and that the court should dismiss the motion to dismiss, and asked the court to allow an amendment to the complaint.


Attorneys representing the high-profile defendants in the lawsuit argued that the defendants could not be held liable for damages because they only made generally positive statements about the exchange in their advertisements.

Further, defense alleges that these advertisements did not include any specific products that plaintiffs deem unregistered securities.

Meanwhile, some of the non-Florida-based defendants argue that they cannot be held liable because Florida law does not apply to non-residents.

The defense team has also filed a petition asking the court not to allow further amendments to the complaint, which, if granted, would remove Friedberg’s latest testimony from the evidence.

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