Ne-Yo, Akon, Lil Yachty and Austin Mahone were also charged by the Securities and Exchange Commission in the case, which is tied to promotion of crypto tokens created by Justin Sun.
“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,” said Gurbir S. Grewal, director of the SEC’s Division of Enforcement.
The SEC says that with the exception of Mahone and Soulja Boy , the stars have agreed to pay a penalty of more than $400,000, without admitting or denying the charges. Celebrity crypto endorsements have been a hot-button legal issue in recent months. Last year, Kim Kardashian
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