Saturday , August 24 2019
Home / chile / SEC imposes fines on Mayweatheram and DJ Khaledam for promotion of ICO. | CryptoNews

SEC imposes fines on Mayweatheram and DJ Khaledam for promotion of ICO. | CryptoNews

The Securities and Exchange Commission of the United States (SEC) fined Boxers Floyd Mayweather Jr and music producer Khaled Khaled on Thursday for not declaring they had received payments to promote Centra Tech ICO. made in September 2017.

According to SEC's opinion, published on Thursday, the famous boxer received $ 100,000 from Centra Tech executives promote the company's initial currency offerings (ICO). In addition, the Stox and Hubii network companies for this purpose deposited a Mayweather account totaling $ 200,000.

In another opinion from the regulatory authority, it was noted that DJ Khaled received $ 50,000 from Centra Tech to advertise this brand on their social networks.

In both of the statements, the SEC notes that Centra Tech's celebrity advertising activities looked "impartial," but it turned out that approvals were paid to distribute misleading information.

Floyd Mayweather Jr. used their Instagram and Twitter accounts to post photos and comments to Centra Tech ICO. Source: BlockInsider.

Centra Tech was considered one of the most popular versions of the cryptographic market starting currency, with a funding range of $ 32 million. However, it soon became apparent that the krypt-flying project, which offered a credit card to the cryptographic market, was in fact a financial fraud.

Currently, Centra Tech founders face 65 years in prison, blamed for conspiracy and financial fraud. Project managers are prosecuted for selling a badge in the United States without the permission of the SEC, as well as missing out on company information and providing false information about alleged bond with Visa, Mastercard and Bancord to distribute false credit cards. for cryptocultures.

Among the prices valued in the Centra Tech case, was the misleading advertisement broadcast by Meivets and Dj Khaled on social networks. Celebrities used their Intragram and Twitter accounts to distribute photographs and comments that promote investment in the initial offer of the Centra Tech currency, a strategy that has led a large number of investors

DJ Khaled also got the money to put Centra Tech on his social networks, pretending that he was doing it objectively. Source: TechCrunch.

Participation in the project will costly celebrities, as Mayweather will have to reimburse the central technology received by the 300,000 dollars for regulatory authorities with the obligation to deposit it within 20 days to the Treasury.

In addition to compensation, Mayweather will have to pay $ 300,000 in fines and injured interest, estimated at $ 14,775.. According to the SEC's decision, the boxer is forbidden to promote "any digital or other value" for three years and will continue to speak to the authorities to provide more information about his case that is still ongoing.

Khlaed will have to reimburse received $ 50,000 to advertise ICO, and pay a fine of 100 thousand dollars and court fees are around $ 2,725. In two years, DJs are also banned from promoting their social networking values.

Both statements claim that if the fine is not paid, they will be accrued with interest on each individual's fines. They also stressed that the charge was imposed on both parties since 2017. In the year before they decided to participate in the ICO, the authorities explained that cryptographic currencies could be traded as securities and should therefore be subject to SEC rules.

Featured image from Yingko /

Source link