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Floyd Mayweather and DJ Khaled under the SEC's punches

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US Securities and Exchange Commission charges Floyd Mayweather Jr. and DJ Khaled. SEC says the two failed to disclose payments they received for promoting investment in ICOs.

The Securities and Exchange Commission on Thursday brought their first cases over touting violations for initial coin offerings, charging boxer Floyd Mayweather Jr. and music producer DJ Khaled.

The pair were charged with promoting initial coin offerings over social media without admitting they were paid.
According to the SEC, Mayweather failed to disclose a $100,000 payment from Centra Tech Inc. and Khaled failed to disclose a $50,000 payment from the same company.

Mayweather received another $200,000 for promoting two other ICOs.

The founders of Centra Tech were previously charged by the Justice Department as well as the SEC with defrauding investors.

In addition to giving up those payments, Mayweather agreed to pay a $300,000 penalty, and DJ Khaled, whose legal name is Khaled Khaled, agreed a $100,000 fine. Neither admitted nor denied the findings.


 Trader Aleksandar Kumanov

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