Alleged fraud with cryptocurrencies from the US Securities and Exchange Commission (SEC) eight world stars, including an actress Lindsay Lohan.
Other defendants:
- Professional boxer and YouTuber Jake Paul
- rapper Soulja Boy (real name DeAndre Cortez Way)
- Singer Akon (his real name is Aliawn Thiam)
- Musician Ne-Yo (Shaffer Smith)
- Sex movie star Kendra Lust (Michelle Mason)
- Singer Austin Mahone
- Rapper Lil Yachty (Miles Parks McCollum)
In addition to Soulja Boy and Austin Mahone, the other six agreed to pay financial compensation totaling over $400,000however, this is not an admission of guilt.
Lohan, who promoted the cryptocurrency on her Twitter account, paid the SEC $10,000 and another $30,000 in fines. Jake Paul was asked to pay an amount in excess of $100,000.
“Brain” of a scammer
Entrepreneur Behind Cryptocurrency Fraud Justin Sunwhom the SEC also accused of fraud.
Although he was born in China and is considered a protégé of Alibaba founder Jack Ma, in recent years Justin Shan has presented himself as a diplomat for the island nation of Grenada. He also owns Tron Foundation Limited, BitTorrent Foundation Ltd and Rainberry Inc.
He and his companies are accused of manipulated buying and selling the two aforementioned cryptocurrencies, at the same time he paid famous stars millions for their Twitter ads.
According to the BBC
Source: Kathimerini
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