Floyd Mayweather Pays $600,000 to Settle SEC Charges in Cryptocurrency Case

Results 1 to 2 of 2
  1. #1
    Bad Ass
    ADMINISTRATOR
    Prince's Avatar


    Join Date
    Nov 2000
    Gender
    Male
    Location
    Las Vegas
    Posts
    71,544

    Thanks Thanks Given 
    397
    Thanks Thanks Received 
    938
    Thanked in
    722 Posts
    Rep Points
    2147483647


    Floyd Mayweather Pays $600,000 to Settle SEC Charges in Cryptocurrency Case

    Floyd Mayweather Pays $600,000 to Settle SEC Charges in Cryptocurrency Case

    Floyd Mayweather had to come out of pocket more than $600,000 to settle charges brought against him by the SEC for his role in a cryptocurrency scandal ... officials have announced.

    As we previously reported, Floyd and DJ Khaled both went to social media in 2017 to promote a crypto coin called Centra.

    The problem according to the Securities and Exchange Commission ... neither star disclosed that they were getting paid to promote the coin ... which is a violation of federal law.

    Turns out, Floyd received $300,000 to promote the coin and DJ got $50,000.

    Officials previously said the company behind the coin was operating illegally, misleading investors and several of the execs listed on the company website don't really exist. The whole thing was essentially deemed a giant scam.

    The SEC brought charges against both Floyd and Khaled -- but they both were able to settle their cases behind closed doors after writing big checks.

    Officials say Floyd ponied up $300k in disgorgement (the money he made for promoting the coin) plus another $300k in fines and another $14k in interest.

    Khaled paid $50,000 in disgorgement plus $100,000 in fines plus another $2,725 in interest.

    Mayweather -- who was cooperative with investigators -- also agreed NOT to promote any kind of currency for the next 3 years. Khaled agreed to hold off for 2 years.

    Source: http://www.tmz.com/2018/11/29/floyd-...urrency-fines/
    Attached Images Attached Images

  2. #2
    Registered User
    botamico's Avatar


    Join Date
    Oct 2010
    Gender
    Male
    Location
    North Carolina
    Posts
    713

    Thanks Thanks Given 
    0
    Thanks Thanks Received 
    158
    Thanked in
    135 Posts
    Rep Points
    29012297

    Just an excuse to take money from them. Utterly ridiculous.

Similar Threads

  1. Manny Pacquiao Vs Floyd Mayweather
    By peptides in forum Anything Goes
    Replies: 52
    Last Post: 03-25-2010, 08:10 PM
  2. Floyd mayweather dancing with the stars
    By danny81 in forum Anything Goes
    Replies: 24
    Last Post: 09-29-2007, 07:00 PM
  3. Floyd Mayweather sucks at Interviews
    By Fetusaurus Rex in forum Anything Goes
    Replies: 18
    Last Post: 05-15-2007, 10:41 AM
  4. Floyd Mayweather Jr
    By section8 in forum Anything Goes
    Replies: 2
    Last Post: 03-11-2006, 02:30 PM
  5. Floyd Mayweather VS Sharmba Mitchell
    By TJ Cline in forum Anything Goes
    Replies: 20
    Last Post: 11-19-2005, 08:41 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Copyright© 2001-2018 IronMag® Bodybuilding Forums