Lindsay Lohan and an adult performer known for playing MILFs are among those being charged in an cryptocurrency fraud scheme, according to a press release from the Securities and Exchanges Commission, published Wednesday afternoon.
, are being charged for illegally promoting the cryptocurrencies TRX and/or BitTorrent without disclosing that they were paid to doing so, or how much they were compensated.
The charges, filed in the U.S. District Court for the Southern District Court of New York, are part of a wider investigation into cryptocurrency entrepreneur Justin Sun, who owns the companies behind Tronix and BitTorrent.
“As alleged in the complaint, Sun and others used an age-old playbook to mislead and harm investors by first offering securities without complying with registration and disclosure requirements and then manipulating the market for those very securities,” Gurbir S. Grewal, director of the SEC’s Division of Enforcement, said in a press release.
Other celebrities named in the release include Akon, Ne-Yo, Lil Yachty, Austin Mahone, Soulja Boy, and influencer Jake Paul. The SEC notes that of the celebrities charged, everyone except Soulja Boy and Mahone have agreed to pay a total of more than $400,000 to settle the charges without admitting guilt or innocence.
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