SEC fined Floyd Mayweather $ 614 thousand for promoting ICO

The US Securities and Exchange Commission (SEC) fined the famous American boxer Floyd Mayweather and music producer DJ Khaled for promoting ICO of Centra Tech on social networks. So, the SEC found that celebrities hid the fact that the organizers paid them for advertising tokens. This is stated in the official press release of the department.

Mayweather and DJ Khaled did not recognize and did not refute the SEC charges, but agreed to pay the illegally earned income, a fine and interest. For Mayweather, the total amount was $ 614,775, and for DJ Khaled – $ 152,725. Note that in addition to Centra Tech, Mayweather advertised two more ICO projects.

At the same time, Mayweather was forbidden to advertise any securities for three years, and DJ Khaled – two.

Recall that in December last year, a collective action was filed against the organizers of the ICO project Centra Tech for violating US law in the field of securities. In April, the SEC suspended tokensale, accusing the company of organizing a fraudulent ICO and misappropriating $ 32 million.

A Florida court later provided evidence that CTR tokens met all the criteria for “investment contracts” according to Howie’s test.

In October, investors filed another lawsuit, however, against Mayweather himself.

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