Author: Kim Lyons
Photo by Brett Costello / Newspix / Getty Images
Steven Seagal, best known for fighting off bad guys with roundhouse kicks in movies like Above the Law, has settled a case with the Securities and Exchange Commission over promoting a cryptocurrency on social media. The action star will pay $314,000, and won’t be allowed to promote any security — digital or otherwise — for three years.
Seagal “failed to disclose he was promised $250,000 in cash and $750,000 worth of B2G tokens in exchange for his promotions,” which included posts plugging Bitcoiin2Gen and its initial coin offering in 2018, the SEC says. “Bitcoiin” is not a typo.
“These investors were entitled to know about payments Seagal received or was promised to endorse this investment so they could decide whether he may be biased,”...
Continue reading…
Continue reading...
Steven Seagal, best known for fighting off bad guys with roundhouse kicks in movies like Above the Law, has settled a case with the Securities and Exchange Commission over promoting a cryptocurrency on social media. The action star will pay $314,000, and won’t be allowed to promote any security — digital or otherwise — for three years.
Seagal “failed to disclose he was promised $250,000 in cash and $750,000 worth of B2G tokens in exchange for his promotions,” which included posts plugging Bitcoiin2Gen and its initial coin offering in 2018, the SEC says. “Bitcoiin” is not a typo.
“These investors were entitled to know about payments Seagal received or was promised to endorse this investment so they could decide whether he may be biased,”...
Continue reading…
Continue reading...