Soulja Boy & Ne-Yo Were Charged W Crypto Scheme

Soulja Boy, Ne-Yo & Akon Charged W Crypto Scheme. Also, Akon, Lil Yachty, Lindsey Lohan, and Jake Paul were involved. This was a large cryptocurrency lawsuit.

Celebrities Were Paid To Promote Crypto & BitCoin Programs

Soulja Boy, Ne-Yo & Akon Charged W Crypto Scheme. Apparently, the celebrities mentioned did not disclose being paid.

As a result, the U.S. Securities and Exchange Commission hit them with violations.

It was illegal for these celebrities to promote Justin Sun’s alleged fraudulent actions.

As reported by AfroTech, the celebrities mentioned had the obligation to disclose being paid.

However, they did not. Therefore, each was ordered to pay at least $400k in the settlement. Justin Sun is a crypto asset entrepreneur.

As stated by Black America Web, he owns and operates three different crypto companies.

Some of the charges against the “A” listers include fraud and security law violations. In layman’s terms, they falsely advertised the worth of the crypto and bitcoin.

Not only that, people purchased crypto and bitcoin under false pretenses. In actually, the coins were not worth what buyers thought.

To top it off, Soulja Boy allegedly refuses to pay. In addition, Soulja Boy is not admitting his guilt.

Nor is he denying he was involved.  According to Pitchfork, “each agreed to pay more than $400,000 in “disgorgement, interest, and penalties” to settle the charges without admitting or denying the SEC’s findings.”

But wait, Austin Malone has decided not to pay. Matter of fact, he took the same stand as Soulja Boy.

Having said this, those involved will not face additional charges. Unfortunately, this sheds a negative light on the aforementioned celebrities.

This goes to show you, you must be careful with your investments.

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