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SEC Hits Floyd Mayweather and DJ Khaled With Fines for Unlawful ICO Promotion

• https://news.bitcoin.com by Kai Sedgwick

Centra ICO Censured Again by SEC

The SEC has settled charges with Mayweather and Khaled for ICO violations pertaining to Centra. The agency had previously charged the project's founders over matters relating to securities fraud. Its latest settlement is the first time the SEC has gone after celebrity promoters of cryptocurrency projects however.

"Without admitting or denying the findings," explained the press release issued on Nov. 30, "Mayweather and Khaled agreed to pay disgorgement, penalties and interest. Mayweather agreed to pay $300,000 in disgorgement, a $300,000 penalty, and $14,775 in prejudgment interest. Khaled agreed to pay $50,000 in disgorgement, a $100,000 penalty, and $2,725 in prejudgment interest."

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