Eight celebrities, including Jake Paul, Lindsay Lohan, and Soulja Boy, have all been hit with charges by the Securities and Exchange Commission.
, were hit with charges by the Securities and Exchange Commission for illegally marketing digital assets affiliated with the flashy crypto entrepreneur Justin Sun, authorities announced on Wednesday.
“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,” Gurbir Grewal, director of the SEC’s Division of Enforcement, said in a press release.
A spokesperson for Jake Paul declined to comment, while a spokesperson for Lohan said she “was contacted in March 2022 and was unaware of the disclosure requirement. She agreed to pay a fine to resolve the matter.”
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