Lindsay Lohan, Jake Paul and other celebrities charged $400,000 for violating disclosure rules | CNN Business

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The Securities and Exchange Commission has charged Lindsay Lohan, Jake Paul and several other celebrities with failing to disclose that they were paid to promote crypto.

The celebrities agreed to pay $400,000, including fines, and return what they were paid for the promotion. Lohan was paid $10,000 to promote Tronix tokens offered by Justin Sun’s company Tron. “Exploring #DeFi and already liking $JST, $SUN on $TRX. Super fast and 0 fee. Good job @justinsuntron,” Lohan tweeted on February 11, 2021. The SEC said Lohan failed to disclose that the tweet was a paid endorsement.

A spokesperson for Paul declined to comment. The SEC also announced that it was suing Sun and three of his companies for failing to properly register crypto securities, manipulating markets and failing to disclose paid relationships with the celebrities. It also sued DeAndre Cortez Way, also known as Soulja Boy, who was allegedly a paid endorser for Tronix and failed to disclose his relationship with the company. A spokesperson for Soulja Boy could not be reached for comment.

 

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👏👏👏👏

Naaa die haben sich gedacht

Wow, SECGov! I didn't think you would do it. Good decision.👍

SEC is too scared to go after Elon & his Doge

Pawns in yet another crypto scam.

Is promoting cryptocurrencies making more people fall for scams?

Pedowood

How long does transitory last?

Didn't she go to jail for something else spoiled rich people do some time ago?

Pawns in yet another crypto scam.

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