SEC Fined DJ Khaled And Mayweather For Promoting A Crypto-Scam

The US Securities and Exchange Commission charged the well-known boxer Floyd Mayweather and the younger and music producer Khaled Khalid, known as DJ Khaled. Celebrities are accused of hiding information about the reward they received during the promotion of the ICO-project.

According to the SEC, Mayweather received $ 100,000 from the Centra Tech project, another $ 200,000 from Stoxx and the Hubii Network. Khalid was paid $ 50,000 to promote Centra Tech.

“At the time, as Mayweather and Khalid did not disclose information about the remuneration, the promotion of ICO could look unbiased by them, although in reality, it was a paid campaign,” said Stephanie Avakian, co-director of the SEC law enforcement department.

Both defendants have the right to appeal before December 15. Upon the expiration of this period, the SEC will transfer the case to court on the fact of illegal promotion of ICO.

Earlier FNI Blockchain wrote that both suspects came to the attention of the American regulator in early October of this year. Then the SEC suspected international stars in an illegal advertising campaign to increase the visibility of the crypto-project Centra Tech, which was rated by the US regulator as “with a high probability of scam”.

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