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Floyd Mayweather Jr. & DJ Khaled Charged By SEC With Crypto Fraud

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San Francisco (CNN)Music producer DJ Khaled and boxer Floyd Mayweather Jr. were charged by the Securities and Exchange Commission Thursday with promoting investments in initial cryptocurrency coin offerings without revealing that they'd been paid. The SEC has said that cryptocurrency coins sold in initial coin offerings may be considered securities and subject to federal securities laws. Mayweather failed to disclose that he'd received $300,000 from three different ICO issuers, including $100,000 from Centra Tech. The SEC, which has made it clear that ICOs can be fraudulent, encourages would-be investors to be wary or avoid those ICOs that are endorsed by celebrities.

Added on the 30/11/2018 07:59:14 - Copyright : Wochit

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