Former NBA star Paul Pierce agreed to pay a $1.4 million settlement over allegations that he promoted a cryptocurrency without disclosing he was paid, the SEC says.
Pierce, nicknamed "The Truth," also made false and misleading statements about a token called EthereumMax, the SEC said.with unlawfully promoting EthereumMax. She agreed to pay $1.26 million as part of a settlement.
The Boston Celtics legend received more than $244,000 worth of EMAX tokens to promote the cryptocurrency but didn't disclose how much he was paid in Twitter posts, according to the SEC., did not admit to or deny the allegations in the settlement. In addition to paying $1.4 million in the settlement, Pierce agreed not to promote any crypto assets for three years, the SEC said."This case is yet another reminder to celebrities: The law requires you to disclose to the public from whom and how much you are getting paid to promote investment in securities, and you can’t lie to investors when you tout a security," said SEC Chair Gary Gensler in a statement.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NBA Hall of Famer Paul Pierce Charged by SEC for Touting EMAX Tokens – Bitcoin NewsThe SEC has officially charged Basketball Hall of Famer Paul Pierce for touting EMAX crypto tokens without disclosing he was paid.
Read more »
NBA Hall-of-Famer Pierce to pay $1.4 mln over crypto promotion, SEC saysFormer pro US basketball star Paul Pierce has agreed to pay more than $1.4 million to settle charges he illegally promoted digital assets, Wall Street's top regulator said Friday.
Read more »
Former NBA star Paul Pierce fined $1.4 million for touting EMAX crypto tokens: SECThe Securities and Exchange Commission says former NBA All-Star Paul Pierce will pay around $1.4 million over crypto promotion.
Read more »
SEC Sues Former NBA Star Paul Pierce Over EthereumMax PromosNEW: The SECgov has sued NBA Hall of Famer Paul Pierce over charges he did not disclose he was paid to promote the EthereumMax token. Pierce will pay $1.4 million in penalties and disgorgement. nikhileshde reports
Read more »
NBA legend Paul Pierce settles with SEC over allegedly false crypto statements | EngadgetNBA Hall of Famer Paul Pierce agreed to pay $1.4 million to settle charges from the Securities and Exchange Commission over a cryptocurrency he promoted on Twitter..
Read more »
Former Boston Celtics star Paul Pierce settles with SEC over crypto violationsNBA Hall of Famer Paul Pierce settled with the SEC over allegations he unlawfully touted the same crypto security as Kim Kardashian.
Read more »