By using this site, you agree to the Privacy Policy and Terms Of Use.
Accept
WhatsNew2DayWhatsNew2Day
  • Home
  • Australia
  • Business
  • Economy
  • Entertainment
  • Gaming
  • Health
  • Lifestyle
  • Science
  • Sports
  • Tech
  • US
  • World
Reading: Celebrities Lindsay Lohan, Jake Paul charged for promoting crypto
Share
Aa
WhatsNew2DayWhatsNew2Day
Aa
  • Home
  • Contact
  • About us
  • Privacy Policy
  • Home
  • Australia
  • Business
  • Economy
  • Entertainment
  • Gaming
  • Health
  • Lifestyle
  • Science
  • Sports
  • Tech
  • US
  • World
Follow US
© 2022 WhatsNew2Day News Network. All Rights Reserved.
WhatsNew2Day > World > Celebrities Lindsay Lohan, Jake Paul charged for promoting crypto
World

Celebrities Lindsay Lohan, Jake Paul charged for promoting crypto

Last updated: 2023/03/22 at 11:44 PM
Merry 2 days ago
Share
Celebrities Lindsay Lohan, Jake Paul charged for promoting crypto
SHARE

Eight celebrities accused of illegally promoting tokens in case involving Chinese crypto entrepreneur Justin Sun.

Actress Lindsay Lohan, YouTube influencer Jake Paul and several other celebrities have been accused of illegally promoting the cryptocurrencies of a Chinese entrepreneur accused of fraud.

The U.S. Securities and Exchange Commission (SEC) said on Wednesday it had accused Justin Sun of artificially inflating the trading volume of Tronix (TRX) and BitTorrent (BTT) and hiding celebrity payments to promote the tokens.

In its complaint filed with the court, the SEC said that Sun, owner of the Tron Foundation, BitTorrent Foundation and Rainberry companies, directed employees to conduct hundreds of thousands of simultaneous or near-simultaneous purchases and sales of TRX and BTT without real change of ownership. .

The SEC said Sun’s efforts to create the appearance of legitimate trading made it easier to sell TRX while keeping prices stable, generating tens of millions of dollars in illicit profits at the expense of investors.

“This case demonstrates once again the risk investors face when crypto-asset securities are offered and sold without proper disclosure,” SEC Chairman Gary Gensler said in a statement.

Sun did not immediately respond to a request for comment via Twitter.

Lohan, Paul, the rapper Akon, artists Ne-Yo and Lil Yachty and adult actress Michele Mason are said to have pushed crypto investments to their millions of online followers without disclosing that they had been paid.

The six all agreed to pay more than $400,000 in disgorgement, interest and penalties to settle the claims, the SEC said.

Two other celebrities named in the SEC’s indictment, rapper Soulja Boy and pop singer Austin Mahone, have not reached a settlement with the SEC, the agency said.

The SEC issues civil penalties such as fines and does not pursue criminal charges.

US regulators have stepped up scrutiny of cryptocurrencies in the wake of FTX’s stunning collapse and the arrest of its founder Sam Bankman-Fried on fraud charges last year.

You Might Also Like

EXTREME turbulence leaves ten travellers injured and entire passenger cabin covered in spilt food

Spanish bid to impose passport staff on Gibraltar in Brexit row could hammer the territory’s economy

King Charles’s France visit postponed amid pension protests

Hotel Rwanda hero Paul Rusesabagina’s prison sentence commuted

Ecuador: ‘Modern-day slaves’ seek justice in landmark trial

TAGGED: Celebrities, charged, Crypto, Economy, Jake, Lindsay, Lohan, Paul, promoting, United States, US and Canada
Merry March 22, 2023
Share this Article
Facebook Twitter Email Print
Share
Previous Article Google’s catch-up game on AI continues with Bard launch Google’s catch-up game on AI continues with Bard launch
Next Article Ubisoft now has an AI-powered background dialogue writer Ubisoft now has an AI-powered background dialogue writer

Latest

A Diablo 4 map shows the location of the World Tier Statue in Kyovashad.
How to change World Tier difficulty in Diablo 4
Gaming
Researchers at the Dana-Farber Cancer Institute in Boston, Massachusetts, said a third of patients treated with revumenib went into complete remission (file image)
Experimental pill sends a THIRD of patients with leukemia into complete remission in early trial
US
Nearly a million people were reported to have taken to the streets on Thursday, protesting against Macron.
Why are the French rioting? Q&A on the chaos in Paris as King Charles cancels visit to France
News
Two clips show meals, trays and plastic cutlery lying in the aisles during the flight from Luanda to Lisbon on March 23
EXTREME turbulence leaves ten travellers injured and entire passenger cabin covered in spilt food
World
Martha Kalifatidis (pictured) has shown off her stunning postpartum body in a comfortable tracksuit set while talking about her breastfeeding journey.
Martha Kalifatidis shows off her postpartum body in comfortable sportswear
Australia
Lukanisman: Anti-HIV drug plan will be expanded, not cancelled
Lukanisman: Anti-HIV drug plan will be expanded, not cancelled
News

nba 2k23 mt

© WhatsNew2Day News Network. All Rights Reserved. Email: contact@whatsnew2day.com

  • Home
  • Contact
  • About us
  • Privacy Policy

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?