SEC charges Floyd Mayweather, DJ Khaled for promoting ICOs without disclosing payments
Guys, did you get the idea from Silicon Valley, the TV show? Very similar story...
They paid themselves and they played themselves.
Whoever could have seen something like this coming!? Egads!
Well this is a relatively new phenomenon...
Where were their money managers, accountants, lawyers, agents when evaluating this initial deal? This definitely filtered through additional layers of idiocy.
SEC, Deutsche Bank of Germany....the financial companies are really busy today!!!
Disgorgement happens when pumping up a crypto gets you in trouble with the SEC. I’m learning new turns of phrase every day.
In these guys’ defense, no one gives anyone a straight answer about ICOs or cryptocurrency. You can imagine what their own research turned up, or what story they were pitched. Should I still call him Floyd Crypto Mayweather?
Quick money is not always good money. Now they have to payout more money. This crypto coin mess is the new con that no one really understands.
While studying these regs for a new license, even i knew this was a no no. But proof feds do not play
Bernie Madoff would be proud.
Did not see this coming.
Leave it to the government to get a hand in every cookie jar.
ICOs are a 21st-century Ponzi scheme. "Support our company. You get no equity or debt, no say in how we run things, but we'll give you some fake, virtual coins with a value we made up."
Morals of an alley cat
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