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Forget Sam Bankman-Fried, Tom Brady – yes, Thomas Edward Patrick Brady Jr. – is the reason one fan lost nearly his entire life savings due to the FTX collapse.
Poor Brady … bullets are coming from every which direction nowadays!
According to a lawsuit recently filed, Michael Livieratos – a 56-year-old legal clerk from Connecticut – is suing the Tampa Bay Buccaneers’ QB after Brady promoted the now-failed crypto exchange in commercials.
“As a New England Patriots fan my entire life, you can imagine the influence that Tom Brady would have,” Livieratos told the Washington Post.
Patriots fan sues Tom Brady, Shark Tank host Kevin O’Leary
I’ve heard – and lived with – some absolutely insufferable Tom Brady fans over the years, but this cat right here is on another level.
The lawsuit – filed last month in a Miami federal court – says O’Leary and Brady “promoted, assisted in, and actively participated in” FTX’s “offer and sale of unregistered securities.”
Because of that, our man Michael here poured $30K – nearly his entire life savings, apparently – into FTX, which collapsed last month faster than the Atlanta Falcons did against Brady in Super Bowl LI.
The company, once valued at over $40 billion, filed for bankruptcy in November and disgraced founder Sam Bankman-Fried was arrested in the Bahamas and charged with multiple counts of fraud and conspiracy.
Not good enough for Michael, though!
“Literally overnight, Mr. Livieratos’ assets held in his YBA [yield-bearing account] were robbed from him as FTX imploded” the lawsuit said, adding that Brady and O’Leary are responsible for “misrepresentations and omissions” while “aggressively marketing” the “deceptive” practices by FTX.
Livieratos’ lawsuit is seeking unspecified damages from Brady, who’s had one hell of a run these past few months.
He retired, un-retired, got divorced, and is currently playing for a terrible Tampa Bay Bucs team that’s been a dumpster fire all season.
But hey, at least he’s not Sam Bankman-Fried, who faces a maximum of 115 years in prison if convicted.