Sec Charges Centra Fraudulent Ico Floyd Mayweather

The Celebrity Boxer Floyd Mayweather Jr.

Centra touted itself as a niche firm that specialized in crypto finance products such as debit cards. The sec issued a report in 2017 warning that coins sold in icos may be securities and that those who offer and sell securities in the u.s. The us securities and exchange commission (sec) has charged boxing legend floyd mayweather and recording artist dj khaled with illegally promoting initial coin offerings (icos).

These Are The First Cases Of The Sec Penalizing Individuals Whose Only Involvement Was Promoting Icos.

The sec's orders found that mayweather failed to disclose promotional payments from three ico issuers, including $100,000 from centra tech inc., and that khaled failed to disclose a $50,000 payment from centra tech, which he touted on his social media accounts as a. In a press release today, professional boxer floyd mayweather and music artist dj khaled were charged by the sec for failing to disclose payments received for promoting an allegedly fraudulent ico. Securities exchange commission has fined ace music producer dj khaled and pro boxer floyd mayweather jr.

Securities And Exchange Commission (Sec) Pressed Charges Against Centra Tech Ico On April 2.

It advertised a false partnership with international card processors visa and mastercard to gain popularity and hired boxer floyd mayweather and music producer dj khaled to promote the project and gain legitimacy with coin buyers. The pair allegedly claimed that the funds raised in the ico would build financial products. These are the sec's first cases to charge touting violations involving icos.

Must Comply With Federal Securities Laws.

The us securities and exchange commission (sec) filed charges against the centra tech initial coin offering (ico) on monday, alleging that the token sale — which was promoted by legendary boxer floyd mayweather — was a fraudulent securities offering. The fraudulent ico was most notably promoted by the likes of professional boxer floyd mayweather and rapper dj khaled on their social media platforms — though charges have not been filed against either celebrity. Centra tech’s initial coin offering relied heavily on celebrity endorsements and was also advertised on floyd mayweather’s twitter account.

Securities And Exchange Commission (Sec) Has Charged Professional Boxer Floyd Mayweather Jr.

In april 2018, the sec filed a civil action against centra’s founders, alleging that the. The fraudulent ico was most notably promoted by the likes of professional boxer floyd mayweather and rapper dj khaled on their social media platforms — though charges have not been filed against either celebrity. The sec has charged two founders of a fraudulent ico backed by floyd mayweather that raised $32 million.