FTX spokesman Kevin OLeary says he lost his $15 million payday from crypto firm
Summary
OLeary and other celebrities, such as Tom Brady and Larry David, were sued by FTX investors who say the exchanges ambassadors should have done more due diligence and exercised a greater level of care before promoting the crypto empire. The Canadian investor was grilled by CNBCs "Squawk Box" hosts over his failure to properly assess the risks associated with investing and promoting FTX. OLeary promoted FTX aggressively on Twitter and online, touting his close connection with disgraced founder Sam Bankman-Fried, who is facing multiple investigations. "Finally solved my compliance problems with #cryptocurrencies," OLeary wrote on LinkedIn and in a since-deleted August 2021 tweet. Eventually, Delaware bankruptcy protection filings by new FTX CEO John Ray would term FTXs risk, audit and compliance procedures "a complete failure of corporate controls."