Celebrities Are Officially Being Sued by FTX Retail Investors

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That didn't take much time. FTX, disgraced CEO Sam Bankman-Fried, and 11 of the exchange's celebrity ambassadors are accused of preying on "unsophisticated" retail investors in the first civil suit against the exchange.

It reads more like an invite list to a posh award show than a lawsuit.

Geriatric quarterback Tom Brady and soon-to-be-ex-wife Gisele Bndchen lead the pack, followed by basketball players Stephen Curry and Udonis Haslem, as well as the Golden State Warriors franchise.

Larry David, who starred in the FTX Super Bowl commercial that told investors that even if they didn't know anything, they should invest, is also named.

The Deceptive and failed FTX platform was based on false representations.

Evidence shows how FTX's fraudulent scheme was designed to take advantage of unsophisticated investors. Consumers in the US sustained over $11 billion in damages.

The attitude of the FTX promo was similar to that of the Larry David commercial. There's no need to be an expert with FTX, while Naomi Osaka promoted the idea that it should be easy to trade.

This is not the first suit of its type. Mark Cuban, the owner of "Shark Tank" fame, was named in a class action lawsuit that was launched against the bankrupt lender of the same name.

The FTX suit seems to be the most high-profile of its kind. A fine for a million or two is a small amount of money, but $11 billion is a lot of money.

It's not clear if anyone ever has to pay up. It's still a bad look and people got hurt. Is there any defense here? They didn't say they would be experts.

FTX founder Sam Bankman- Fried hit with a class-action lawsuit that also named Brady, Bndchen, and Curry.

According to experts, Sam Bankman- Fried's best legal defense is to say he's just really, really stupid.