Lindsay Lohan, other celebs settle with SEC over crypto case
msn.comwho last week announced she is pregnant, was called to give up the $10,000 she was paid, plus interest, and pay a $30,000 fine, according an SEC complaint. A spokeswoman for Paul declined to comment. Emails left with representatives for the other celebrities named in the SEC complaint weren’t immediately returned Wednesday.
In the complaint filed by the SEC in federal court in New York, the agency claims the celebrities were paid to promote Tronix (TRX) and BitTorrent (BTT), both crypto asset securities that were offered for sale by three companies owned by Justin Sun, a Chinese national. Sun is the permanent representative of Grenada to the World Trade Organization and may be living in Singapore or Hong Kong, according to the complaint. Starting at around August 2017, Sun allegedly offered to sell billions in the unregistered securities and engaged in manipulative trading, while also creating secondary markets on which Tronix and BitTorrent could be traded, according to the complaint.
“Although the celebrities were paid to promote TRX and BTT, their touts on social media did not disclose that they had been paid or the amounts of their payments,” according to the complaint. “Thus, the public was misled into believing that these celebrities had unbiased interest in TRX and BTT, and were not merely paid spokespersons. ”Many celebrities and athletes have used their influence and massive social media followings to promote cryptocurrencies in recent years, including Matt Damon, Tom Brady and Reese Witherspoon.
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![Tron [TRX] plunges, longs liquidated, credit goes to ‘his excellency’](https://gocryptonft.com/storage/thumbs_400/img/2023/3/23/91858_poa.jpg)
