Actor Steven Seagal was fined and suspended from investment promotions over charges he hawked a cryptocurrency venture without disclosing compensation.
Steven Seagal, a big supporter of Russian President Vladimir Putin, is not the first celebrity to face sanctions from US regulators over cryptocurrency.US securities regulators announced they had fined actor Steven Seagal and suspended him from investment promotions over charges he hawked a cryptocurrency venture without disclosing compensation.
But Seagal failed to disclose that he was promised $250,000 in cash and $750,000 worth of tokens in exchange for touting the investments to his 107,000 followers on Twitter followers and 6.7 million on Facebook.The actions flouted a securities law that requires people who publicise securities to disclose compensation, the SEC said.
The US regulator ordered Seagal to pay $314,000 in fines and disgorgement of ill-gotten gains and barred him from plugging securities for three years.
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