Sued for ‘Public Cheating’, $700 Million Tom Brady and Gisele Bündchen Face Fire

After a dominant 23-season career, Tom Brady eventually decided to retire. Throughout his extensive career, Brady’s Midas touch seemed to turn every venture he was involved in into a success. However, one particular business venture that he collaborated on with various athletes and celebrities continues to haunt the 7-time Super Bowl champion to this day. Notable figures such as Shaquille O’Neal, Stephen Curry, and even his ex-wife Gisele Bündchen were also implicated in this fraudulent scheme, which resulted in millions of dollars in losses for investors.

Because of the significant losses incurred, both Brady and his ex-wife faced lawsuits for defrauding the public. The failed venture dealt a heavy blow to their net worth, leading to strained relationships and tarnished reputations in the process.

Tom Brady lost an NFL athlete’s annual salary

Following the downfall of FTX, the seemingly prestigious billion-dollar company, prominent investors like Brady faced substantial losses. Reports indicate that Brady alone suffered a staggering $30 million loss, which amounts to the annual salary of a top-tier athlete in the league. His ex-wife, who also made significant investments in the company, is reported to have lost $18 million. However, the troubles might not be over for the divorced pair just yet.

A recent report by ‘Sportico’ unveils that both Brady and his ex-wife are facing lawsuits from customers who were influenced to invest and subsequently lost their life savings. Gisele promptly issued a statement, acknowledging that she had “trusted the hype” before investing her share in the now-collapsed company.

Read More: Dark Shadows of the FTX Scandal Chase Tom Brady With Another Big Blow to His Name

Brady, on the other hand, is yet to comment on the issue, despite being one of the main defendants in the lawsuit. Notably, he had previously appeared in several commercials promoting FTX.

TB12 and Gisele aren’t the only ones who’re facing legal suits

Many of the Brand Ambassadors associated with the company faced lawsuits due to their involvement. Brady, along with other major investors, reportedly signed a waiver for the lawsuit a few months ago. However, the 7-foot NBA legend, Shaq, was accused of evading his legal responsibilities and refusing to accept the delivered documents from the plaintiffs.

The lawsuit alleges mismanagement of funds and a lack of liquidity within FTX, leading to its bankruptcy. Various reports have mentioned additional accusations such as hush money, keeping customers uninformed, and even potential involvement in money laundering.

The lawsuit is still in its early stages, with much to unravel and discover in the upcoming days. Despite their significant financial losses, the athletes and celebrities involved may potentially face even greater repercussions due to the ongoing legal proceedings.

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