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.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.