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SEC charges eight celebrities in connection with cryptocurrency promotions
Just the News ^ | 3/22/23 | Ben Whedon

Posted on 03/22/2023 9:18:50 PM PDT by CFW

The Securities and Exchange Commission has charged eight celebrities with securities law violations in connection with their promotion of cryptocurrencies.

The SEC announced the charges on Wednesday, which stemmed from an investigation of Justin Sun's companies Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc., according to Variety. Those companies promoted crypto securities BitTorrent (BTT) and Tronix (TRX).

The eight facing charges are Lindsay Lohan, Ne-Yo, Lil Yachty, Soulja Boy, Jake Paul, Austin Mahone, Akon, and Kendra Lust.

(Excerpt) Read more at justthenews.com ...


TOPICS: Business/Economy; Crime/Corruption; Extended News; Government
KEYWORDS: akon; austinmahone; bittorrent; crypto; digitalbanking; government; jakepaul; justinsun; kendralust; lilyachty; lindsaylohan; neyo; rainberry; souljaboy; tronfoundation
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I recall seeing ads from some of these named touting Crypto as THE thing to invest in. However, how is it any different from any other product promoted by celebrities? Buyer beware has been always the law of the land unless actual fraud is involved. Pfizer is a classic example of non-stop promotion of a product that does not work as we have been told by those that tout the product.

If these promoters of a product can be sued, then can't we all sue Fauci, Trump, Biden, etc for promoting the Covid vaccine?

1 posted on 03/22/2023 9:18:50 PM PDT by CFW
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To: CFW

That’s not the title.


2 posted on 03/22/2023 9:20:12 PM PDT by ConservativeMind (Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
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To: CFW

Tell me about it! I just reported abuse on myself due to the headline. I swear I proof-read it and it was this:

“SEC charges eight celebrities in connection with cryptocurrency promotions”

How in the world it changed into an advertisement (the subject of the very article), I have no idea!


3 posted on 03/22/2023 9:22:22 PM PDT by CFW (old and retired)
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To: ConservativeMind

I hope the moderator on duty for the evening didn’t take a nap! I’ll never live this down! I’ll be the subject of Valentine’s Day gift jokes forever!


4 posted on 03/22/2023 9:24:26 PM PDT by CFW (old and retired)
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To: CFW; jimrob

Thank you dear moderator for fixing my headline, whoever you are! JimRob does an excellent job of keeping someone on duty at all times!


5 posted on 03/22/2023 9:46:46 PM PDT by CFW (old and retired)
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To: CFW

Damn, the KGB has come for all my favorite millennial entertainers!


6 posted on 03/22/2023 9:52:23 PM PDT by PGR88
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To: CFW

Good question.


7 posted on 03/22/2023 9:56:00 PM PDT by miserare ( Free Jacob Chansley!)
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To: CFW

I thought the celebrities would get a reward for promoting FTX, while gave generously to Dem campaigns. But FTX also gave to GOP candidates. Maybe that was the real sin.


8 posted on 03/22/2023 10:01:13 PM PDT by ding_dong_daddy_from_dumas (Re-imagine the media!)
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To: CFW
Ne-Yo, Lil Yachty, Soulja Boy, Jake Paul, Austin Mahone, Akon, and Kendra Lust

I thought you said these were celebrities?

9 posted on 03/22/2023 10:02:45 PM PDT by Right_Wing_Madman
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To: Right_Wing_Madman

“I thought you said these were celebrities?”

____

Well, in my defense, I assumed they must be. I haven’t heard of any of them before, but I’m 60+ years of age and still think that Jimi Hendrix, Foreigner, Kansas, Lynyrd Skynyrd, Allman Brothers, Led Zepplin, and Fleetwood Mac, are the biggest music groups around.

And, Clint Eastwood is still the best actor for action movies.

Call me an ole fogy if you wish but that’s just the way it is! As the t-shirt I saw today said, “I can’t believe I’m the same age as all those old people”. LOL!


10 posted on 03/22/2023 10:14:52 PM PDT by CFW (old and retired)
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To: Right_Wing_Madman

Oh and they have a great defense built in! “No one knows who we are or pays attention to us”! That should have any charges dismissed since it would be easily provable if you asked the question to a large segment of investors.


11 posted on 03/22/2023 10:17:21 PM PDT by CFW (old and retired)
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To: CFW

Leave Lindsay Lohan alone!

12 posted on 03/22/2023 10:33:43 PM PDT by Enterprise
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To: CFW

The only one I’ve ever heard of is Lindsay Lohan and I’m not sure she’s smart enough to pronounce cryptocurrency.


13 posted on 03/22/2023 10:37:02 PM PDT by GaryCrow
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To: Enterprise

She’s the only one I’ve heard of. But I thought she died of an OD.

I assume the rest are rappers.


14 posted on 03/22/2023 11:14:01 PM PDT by Jewbacca (The residents of Iroquois territory may not determine whether Jews may live in Jerusalem.)
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To: CFW
If I heard a porn star like Ms Lust say put all your money in Crypto currency, I am sure, I would do it, just to please her.

Some of the major financial services firms were suggesting that crypto currency IRA's was a good way to diversify from government denominated funds. The whole crypto currency thing was not really currency in a traditional sense, except for maybe Venezuela, but that is not much of an economy.

The SEC is looking for publicity because they have failed so badly at so many things.

15 posted on 03/23/2023 2:18:11 AM PDT by Robert357
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To: CFW

Thanks for getting all 8 names into the excerpt.


16 posted on 03/23/2023 5:27:29 AM PDT by ansel12 (NATO warrior under Reagan, and RA under Nixon, bemoaning the pro-Russians from Vietnam to Ukraine.)
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To: CFW

I’ve only ever heard of Lindsey Lohan and Ne-Yo, but what are these people accused of? Where they just hired promoters? This really seems a bit of stretch to me.


17 posted on 03/23/2023 5:31:27 AM PDT by jocon307 (Democrats delenda est.)
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To: Jewbacca

“But I thought she died of an OD”

Def. not dead. She might actually be having a baby, I think I read.


18 posted on 03/23/2023 5:32:41 AM PDT by jocon307 (Democrats delenda est.)
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To: CFW

Caveat emptor

The laws for promoting might be different


19 posted on 03/23/2023 5:41:53 AM PDT by bert ( (KWE. NP. N.C. +12) Juneteenth is inequality day )
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To: CFW
"All but Mahone and Soulja Boy (aka DeAndre Cortez Way) have reached settlements with the SEC that involve “more than $400,000 in disgorgement, interest, and penalties to settle the charges, without admitting or denying the SEC’s findings,” per the SEC."

Guess who be cryptobroke lofl!

20 posted on 03/23/2023 5:47:03 AM PDT by StAnDeliver (Tanned, rested, and ready.)
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