Actress Lindsay Lohan has been charged for touting cryptocurrencies on social media without making it known that they were paid to do so.
The US Securities and Exchange Commission (SEC) said the charges form part of a case against entrepreneur Justin Sun. Sun is being accused of marketing Tronix and Bit Torrent crypto assets without registering with the relevant authorities. He is also accused of manipulating crypto trading on his platform.
In a statement released by the SEC, Chair Gary Gensler said this case is a good example of what happens when crypt asset securities are sold without proper disclosure.
Lohan is one of six people who were charged with touting. Both she and YouTube star Jake Paul didn’t admit or deny guilt but paid huge fines.
The Citizen reports that adult film actress Michele Mason (also known as Kendra Lust), rapper Lil Yachty (Miles Parks McCollum), singer Ne-Yo (Shaffer Smith) and Akon (Aliaune Thiam) have also agreed to settle the lawsuit.
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