FTX investors agree to drop civil lawsuit against SBF if he snitches on ...

[electronicash]

so they were already victims of the FTX scam and yet they are going to be prosecuted. brilliant! and then the sentence to Sam will be reduced because he's ratting them. this is a bargain.

those celebrities even lost money from this scam. but because they spoke out in favor of FTX during that time, they are going to be sued? 
how did the judicial system ended this way, if it where in some other country, Sam would have been hanged already on the townsquare.

[Captain Corporate]

To be fair, it could be related to if they are paid or not. If they promoted from just liking it, and if they promoted just because they got paid, are two very different things. I believe that we need to end up checking to see what we could do, and that has to be the most important part of this. I get that its not going to be that hidden, if they are paid then they have to disclose it, so there is still no need for SBF at all, we should probably not see anything that would be weird, we could still see him not snitch on anyone and yet still end up getting what they want. They just have to look at the books and can see that.

[Z-tight]

so they were already victims of the FTX scam and yet they are going to be prosecuted. brilliant! and then the sentence to Sam will be reduced because he's ratting them. this is a bargain.

This isn't what is happening here, this is a different lawsuit against promoters of ftx and this lawsuit was filed by some of the creditors. They are charging the promoters as being culpable in the collapse of ftx by aiding the company to commit fraud, which resulted to them losing money.

They want sbf to give them info that may help them nail the promoters, and according to them if he does that, they would drop a separate civil lawsuit against him, however, this does not influence the 25 years sentencing.

[examplens]

I think the Telegraph article explains it in more detail, although it seems you need to log in to read the rest. The argument is that Mercedez aids them by doing promotions, ads, lending its brand name for easier promotion, hosting events together, and so on. So they argue that it is not as simple as FTX buying an ad slot, since they also profited from their cooperation by getting a new revenue channel. CMIIW.

It is just a different wording of the same thing.
They hosted the event together, which is the same as FTX sponsoring the Mercedes event, i.e. Mercedes paid the costs of the event with the money they received from FTX in the name of placing ads on their car.
Mercedes can spend its winnings from sponsors wherever it wants, whether it's events, salaries for workers or buying food for the homeless, it's up to them.

I see this whole thing as grasping at straws for the deceived investors, but in the end, it is their fault because they made the wrong investment.

[Stompix]

Is this an attempt to manipulate the evidence, but I don't see how they really actively participated in the fraud. Are they just sponsorship deals, or aren't they?

Sponsorship deals must be disclosed, when somebody is being actively paid for extra activity, like in Kim's Instagram case they also must disclose that depending on the law, since we're talking about lending their name for tokens on FTX a shitload of extra paperwork.If they have breached what was supposed to be an add and user they brand to also promote FTX in particular cases they are good for the money.

so they were already victims of the FTX scam and yet they are going to be prosecuted. brilliant! and then the sentence to Sam will be reduced because he's ratting them. this is a bargain.

You're jumping to the wrong conclusion.
The case in which SBF was sentenced is DoJ against SBF, anyone else who was an investor of FTX or a claimant can open a civil case against SBF.
Even if SBF would win this civil case his 15 years in prison is still there and it won't change, what's left if how much money is he supposed to pay on top of the previous charge.

how did the judicial system ended this way, if it where in some other country, Sam would have been hanged already on the townsquare.

Name one!

[Faisal2202]

Honestly i don't understand how much SBF can help here, when those celebrity did promote FTX publicly and it shouldn't be that hard to find proof of what they did. And $1.3 million sounds small compared with few billion USD he needs to return (along with the fines). Your opinion is greatly appreciated.

I guess the fans are not doing the right thing, because at the moment these celebrities were not aware of the future events of disasters that this platform could bring, they were not obliged to check the books before endorsing it or do they? IMO they should not be punished or sued, instead the one who are suing FTX must go after SEC so they should do something about there funds.

Because many people are saying SEC is not doing the right thing at the moment means its not going after FTX its going after other platforms and SEC is abusing its power.

[examplens]

Sponsorship deals must be disclosed, when somebody is being actively paid for extra activity, like in Kim's Instagram case they also must disclose that depending on the law, since we're talking about lending their name for tokens on FTX a shitload of extra paperwork.If they have breached what was supposed to be an add and user they brand to also promote FTX in particular cases they are good for the money.

However, it is one thing if you rent your name to a sponsor, and another thing entirely is how that same sponsor manages the funds of his clients. I'm pretty sure neither is Kim Ka. nor did any celebrity or even Mercedes come to FTX and suggest that they buy some trash tokens with investor funds.

[Stompix]

~

However, it is one thing if you rent your name to a sponsor, and another thing entirely is how that same sponsor manages the funds of his clients. I'm pretty sure neither is Kim Ka. nor did any celebrity or even Mercedes come to FTX and suggest that they buy some trash tokens with investor funds.

No, but it doesn't matter.
Any partnership must be disclosed to both investors in the companies involved, and any extra action in which one promotes the other without a signed contract for that is considered an endorsement and makes you liable for damages on behalf of your own clients. It's one thing to showcase an ad it's a different thing to use all your social media accounts to advertise FTX directly
https://twitter.com/MercedesAMGF1/status/1441320476941316110

And Mercedes didn't even stop on the ad on that car in time, and what's worse for them they've kept the logos for one more race after the collapse, which is also pretty bad, pretty close to definitions of aiding and aiding abetting by uslaws, and that's where the lawsuit is.