The US Securities and Change Fee has filed fees in opposition to eight celebrities, together with actor Lindsay Lohan and social media influencer Jake Paul, for selling crypto belongings with out disclosing that they had been paid to take action.
In a press launch Wednesday, the SEC mentioned Lohan and Paul marketed crypto asset securities Tronix (TRX) and BitTorrent (BTT) with out revealing that they had been compensated or how a lot they had been paid. Musicians Soulja Boy, Austin Mahone, Lil Yachty, Ne-Yo, and Akon, in addition to porn actor Kendra Lust, had been additionally charged.
Soulja Boy and Mahone are the one two of the eight who didn’t conform to pay a collective payment of over $400,000 in disgorgement, curiosity, and penalties to settle the fees, which aren’t an admittance or denial of guilt, the SEC mentioned.
A representive for Lohan informed BuzzFeed Information the actor was contacted in March 2022 and was unaware she was required to reveal she was paid for the promotion. She agreed to pay a tremendous to resolve the difficulty.
“Exploring #DeFi and already liking $JST, $SUN on $TRX. Tremendous quick and 0 payment. Good job @justinsuntron,” Lohan tweeted on Feb 11, 2021.
