NBA Hall-of-Famer Paul Pierce has been charged by the SEC for being involved in the promotion of Ethereum Max.
On February 17, the Securities and Exchange Commission charged NBA Hall of Famer Paul Pierce with illegally promoting the EMAX token on his social media accounts. The EMAX token was offered and sold by EthereumMax., Pierce has agreed to pay a penalty of $1,115,000, plus approximately $240,000 in disgorgement and prejudgment interest, without admitting or denying guilt, to avoid greater sanctions from regulators. He is also prohibited from promoting any crypto asset securities for three years.
The SEC alleges that Pierce fraudulently promoted the purchase of the EMAX token without publicly disclosing that EthereumMax paid him over $244,000 in EMAX for promoting it. “This case is yet another reminder to celebrities: The law requires you to disclose to the public from whom and how much you are getting paid to promote investment in securities, and you can’t lie to investors when you tout a security,”.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SEC warns celebrities after charging NBA Hall of Famer over crypto promotionFormer Boston Celtics basketball player Paul Pierce was charged by the SEC for unlawfully touting EMAX tokens.
Read more »
NBA Hall of Famer Paul Pierce Charged by SEC for Touting EMAX Tokens – Bitcoin NewsThe SEC has officially charged Basketball Hall of Famer Paul Pierce for touting EMAX crypto tokens without disclosing he was paid.
Read more »
NBA Hall-of-Famer Pierce to pay $1.4 mln over crypto promotion, SEC saysFormer pro US basketball star Paul Pierce has agreed to pay more than $1.4 million to settle charges he illegally promoted digital assets, Wall Street's top regulator said Friday.
Read more »
NBA Hall of Famer Paul Pierce to pay $1.4 million in crypto charges settlementFormer NBA star Paul Pierce agreed to pay a $1.4 million settlement over allegations that he promoted a cryptocurrency without disclosing he was paid, the SEC says.
Read more »
Dallas Cowboys Hall of Famer’s heartbreaking announcement has players, fans reaching outThe former Cowboys star made the announcement earlier this week.
Read more »
Baseball Hall of Famer Tim McCarver dies at 81; star catcher also was a famed broadcasterThe two-time All-Star was best known to national baseball audiences for his 18-year partnership on Fox with play-by-play man Joe Buck. He also called a few dozen San Francisco Giants games during t…
Read more »