Crypto Blockchain

Floyd Mayweather & DJ Khaled Charged With Illegally Promoting ICO

Boxing legend Floyd Mayweather and music producer DJ Khaled have been charged by the SEC with fraud, and have agreed to pay a total $750,000 to settle federal regulators’ charges that they failed to disclose payments they received for promoting investments in digital-currency securities.

The settlement of civil charges was announced Thursday by the Securities and Exchange Commission. The agency says they are its first cases involving charges for violating rules on touting investments in so-called initial coin offerings, or ICOs.

The SEC said Mayweather failed to disclose promotional payments from three issuers of ICOs, including $100,000 from Centra Tech Inc. Khaled allegedly didn’t disclose a $50,000 payment from Centra, which he touted on his social media accounts as a “game changer.”

They are still being sued by more than a few investors who now say it was just a scam.

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Pesach Lattin

Pesach "Pace" Lattin is one of the top experts in interactive advertising, affiliate marketing. Pace Lattin is known for his dedication to ethics in marketing, and focus on compliance and fraud in the industry, and has written numerous articles for publications from MediaPost, ClickZ, ADOTAS and his own blogs.

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