{"id":1227,"date":"2023-03-24T01:16:22","date_gmt":"2023-03-24T01:16:22","guid":{"rendered":"https:\/\/yareport.com\/?p=1227"},"modified":"2023-03-24T01:16:23","modified_gmt":"2023-03-24T01:16:23","slug":"celebrities-including-lindsay-lohan-face-sec-charges-for-promoting-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/yareport.com\/index.php\/2023\/03\/24\/celebrities-including-lindsay-lohan-face-sec-charges-for-promoting-cryptocurrencies\/","title":{"rendered":"Celebrities including Lindsay Lohan face SEC charges for promoting cryptocurrencies"},"content":{"rendered":"\n<p>A group of celebrities, including Lindsay Lohan, Ne-Yo, and Jake Paul, are <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2023-59\" target=\"_blank\" rel=\"noopener\">facing<\/a> charges from the Securities and Exchange Commission (SEC) for breaking laws related to promoting cryptocurrencies.<\/p>\n\n\n\n<p>SEC has filed charges against several celebrities, along with Tron Foundation Ltd, BitTorrent Foundation Ltd, and Rainberry Inc, for unlawfully selling the cryptocurrency assets Tronix (TRX) and BitTorrent (BTT). <\/p>\n\n\n\n<p>These charges were filed on Wednesday as part of the SEC&#8217;s wider legal action against crypto entrepreneur Justin Sun and his companies.<\/p>\n\n\n\n<p>In addition to Lindsay Lohan, the SEC has charged eight other high-profile individuals, including rappers Soulja Boy and Lil Yachty, singers Austin Mahone and Akon, and adult film star Kendra Lust, for promoting TRX and\/or BTT without proper disclosure of their compensation for doing so.<\/p>\n\n\n\n<p>The SEC has stated that Justin Sun and his companies unlawfully marketed crypto asset securities as investment opportunities through unregistered &#8220;bounty programs&#8221;. <\/p>\n\n\n\n<p>These programs encouraged individuals to promote the tokens on social media, recruit others to Tron-affiliated Telegram and Discord channels, and create BitTorrent accounts in exchange for distributions of TRX and BTT.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThis case demonstrates again the high risk investors face when crypto asset securities are offered and sold without proper disclosure,\u201d<\/p>\n<cite>Said SEC Chair Gary Gensler in a statement.<\/cite><\/blockquote>\n\n\n\n<p>With the exception of Soulja Boy and Austin Mahone, all the celebrities mentioned have agreed to pay a combined amount of over $400,000 in disgorgement, interest, and penalties to resolve the charges. They have neither admitted nor denied the SEC&#8217;s findings.<\/p>\n","protected":false},"excerpt":{"rendered":"A group of celebrities, including Lindsay Lohan, Ne-Yo, and Jake Paul, are&hellip;\n","protected":false},"author":4,"featured_media":1228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_mi_skip_tracking":false},"categories":[19],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/posts\/1227"}],"collection":[{"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/comments?post=1227"}],"version-history":[{"count":1,"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/posts\/1227\/revisions"}],"predecessor-version":[{"id":1229,"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/posts\/1227\/revisions\/1229"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/media\/1228"}],"wp:attachment":[{"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/media?parent=1227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/categories?post=1227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yareport.com\/index.php\/wp-json\/wp\/v2\/tags?post=1227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}