DJ Khaled And Floyd Mayweather Run Into Legal Troubles With Feds (VIDEO)
The federal government has informed DJ Khaled that he played himself.
DJ Khaled promoted investments in an initial cryptocurrency coin offering (ICO). Khaled posted on social media that the ICO company Centra Tech was a “game changer.”
However, Khaled did not report that he received a payment of $50,000 from the company.
Floyd Mayweather also failed to disclose that he received a payment of $100,000 from Centra Tech to promote the crypto company on Twitter.
The Securities and Exchange Commission (SEC) charged Mayweather and Khaled with promoting investments in initial cryptocurrency coin offers (ICOs).
Both celebs settled with the SEC and avoided receiving any jail time. They both agreed to give the money they received to the SEC and pay penalties.
This is the first time the SEC has brought charges against individuals for promoting ICOs.
