An assortment of ONTD’s favorite people have been hit with SEC charges
Here's a list of people who have been hit with Securities and Exchange Commission charges for violating securities laws in touting crypto currencies:
Lindsay Lohan
Soulja Boy
Austin Mahone
Akon
Jake Paul
Ne-Yo
Lil Yachty
Read the full story here: https://t.co/MffzMEENRd
- Variety (@Variety) March 22, 2023
- LiLo, Ne-Yo, Akon, Jake Paul, Lil Yachty, Kendra Lust, Austin Mahone, and Soulja Boy were charged by the SEC for promoting cryptocurrencies (BTT and/or TRX) without disclosing that they had been paid and how much. All but the last two have settled and paid $400,000 in fines.
- Their cases are part of the investigation into Justin Sun and his crypto companies. He’s been accused of illegal trading for unregistered sales of securities and for manipulating the market for the coins by having employees do “wash trades” to make it seem like they were being traded. The SEC also says he asked celebs to not disclose that they were being paid for their endorsements.
- Lindsay’s rep says that she wasn’t aware of the disclosure requirement.
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