Tom Brady’s Ex-Wife Gisele Bundchen Returns To Save Him from Serious Jail Time Over $11 Billion FTX Scandal
In the big $11 billion lawsuit that was brought against them last year, Tom Brady, Steph Curry, and numerous other athletes and celebrities who appeared in FTX advertisements filed their defense. Due to endorsement agreements, they had with FTX, Brady, his ex-wife Gisele Bundchen, Curry, Shaquille O’Neal, Shohei Ohtani, Naomi Osaka, David Ortiz, Trevor Lawrence, Udonis Haslem, and Larry David (but NOT Taylor Swift) were all mentioned in the complaint.
Gisele Bundchen To Save Tom Brady?
The legendary quarterback’s attorney signed a waiver of service on Dec. 27, 2022. As such, the waiver is extended to 60 days after service instead of the standard 20.
In their motion to dismiss the lawsuit against them, the celebrities stated,
“Plaintiffs themselves, sophisticated investors, financial institutions, and even members of Congress all were unable to discern FTX’s fraud from the then-available information. It is implausible that simply ‘doing business’ with FTX was sufficient to put [celebrities] on notice of fraud (indeed, FTX premised an ad on Curry’s being ‘not an expert’ on cryptocurrency).”
There has been a lot written about how Tom Brady and Gisele Bundchen may have already lost millions of dollars as a result of the FTX controversy, including a terrifyingly in-depth conspiracy theory. Additionally, Gisele Bündchen waived service on December 27, 2022. Bündchen had joined Brady in his sponsorship with FTX. Brady holds 1.1 million common shares of FTX stock, according to a filing, and Bundchen has just under 700,000 in her holdings, according to Insider.
There is little doubt that this controversy has broad implications, and is making life difficult for everyone concerned. It’s not obvious how this will all work out, but it probably won’t cost the extremely wealthy players cited in the lawsuit all that much.
What is The FTX Scandal?
Not just those in the crypto community were affected by Sam Bankman-Fried’s FTX crypto empire’s demise; other well-known businesspeople and celebrities also suffered significant financial losses.
The case rests on the legal need that any security be registered. The lawyers argued that FTX should be viewed as illegal because everything that is not registered is unlawful. Promoting such unregistered securities is a component of a fraudulent plan as well. Therefore, the product’s promoters are responsible for the harm. The celebrities also claim that the people suing them “fail to explain how a [celebrity] appearing next to FTX’s name or saying things like ‘FTX, you in?’, misleads or deceives.”
The most well-known person to endorse and invest in FTX is Tom Brady, who may also have suffered the greatest personal loss. Before FTX Trading filed for bankruptcy, the quarterback of the Tampa Bay Buccaneers had more than 1.1 million common shares, which was roughly estimated to $45 million, according to Bloomberg.
His ex-wife too lost a sizable amount of her wealth in the deal, in addition to her now ex-husband Tom Brady. According to reports, Bündchen possessed 680,000 FTX shares, worth roughly $25 million.
Why Did Tom Brady and Gisele Bundchen Split?
After 13 years of marriage, Tom Brady and Gisele Bündchen announced they’re divorcing on Oct. 28, 2022.
After he backtracked on the declaration that he was putting up his cleats permanently, a source revealed in September 2022 that there was “tension” between the couple. The informant claimed that Bundchen was upset when Tom Brady came out of retirement from the NFL so soon.
She dismissed the notion that she was the one pushing for him to resign in a recent interview with Elle magazine. She said,
“Obviously, I have my concerns. This is a very violent sport, and I have my children and I would like him to be more present. I have definitely had those conversations with him over and over again. But ultimately, I feel that everybody has to make a decision that works for [them]. He needs to follow his joy, too.”
When Vanity Fair questioned the Brazilian model about the cause of the breakup, she responded that sometimes couples just grow apart. Brady was 29 and Bundchen was 26 when they first met, and both of them wanted to get married and start a family. She noted,
“As time passes, we come to see that we just want different things, and we now have the decision to make. That doesn’t imply you don’t care about the individual. Simply put, it means that you need a partner who can meet you halfway if you’re going to be real and actually live the life you want. It is dance. Balance is key.”
Tom Brady and Gisele Bundchen tied the knot on February 26, 2009. The former couple shares two children – son Benjamin Rein, 12, and daughter Vivian Lake, 9.
Source: TENNIS
