- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
Boxing legend Floyd Mayweather and music producer DJ Khaled have agreed to pay a total $750,000 to settle federal regulators’ charges that they failed to disclose payments they received for promoting investments in digital-currency securities.
The settlement of civil charges was announced Thursday by the Securities and Exchange Commission. The agency says the cases are its first involving charges for violating rules on touting investments in so-called initial coin offerings, or ICOs.
The SEC said Mayweather failed to disclose promotional payments from three issuers of ICOs, including $100,000 from Centra Tech Inc. Khaled allegedly didn’t disclose a $50,000 payment from Centra, which he touted on his social media accounts as a “game changer.”
Mayweather and Khaled neither admitted nor denied the allegations in agreeing to the settlements.
Sign up for THR news straight to your inbox every day