WHAT GOES UP #MUST COME DOWN! They just keep piling up don't they??
ANOTHER #AMERICAN_CELEB #CRIMINAL!
#SEC #Charges #Kim_Kardashian for #Unlawfully Touting #Crypto_Security
FOR IMMEDIATE RELEASE
2022-183
Washington D.C., Oct. 3, 2022 โ
The Securities and Exchange Commission today announced charges against Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. Kardashian agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commissionโs ongoing investigation.
The SECโs order finds that Kardashian failed to disclose that she was paid $250,000 to publish a post on her Instagram account about EMAX tokens, the crypto asset security being offered by EthereumMax. Kardashianโs post contained a link to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens.
"This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesnโt mean that those investment products are right for all investors," said SEC Chair Gary Gensler. "We encourage investors to consider an investmentโs potential risks and opportunities in light of their own financial goals."
"Ms. Kardashianโs case also serves as a reminder to celebrities and others that the law requires them to disclose to the public when and how much they are paid to promote investing in securities," Chair Gensler added.
"The federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion," said Gurbir S. Grewal, Director of the SECโs Division of Enforcement. "Investors are entitled to know whether the publicity of a security is unbiased, and Ms. Kardashian failed to disclose this information."
The SECโs order finds that Kardashian violated the anti-touting provision of the federal securities laws. Without admitting or denying the SECโs findings, Kardashian agreed to pay the aforementioned $1.26 million, including approximately $260,000 in disgorgement, which represents her promotional payment, plus prejudgment interest, and a $1,000,000 penalty. Kardashian also agreed to not promote any crypto asset securities for three years.
The SECโs investigation, which is continuing, is being conducted by Jon A. Daniels, Alison R. Levine, and Pamela Sawhney of the Enforcement Divisionโs Crypto Assets and Cyber Unit, and Kerri Palen, Lisa Knoop and Victor Suthammanont of the New York Regional Office. The case was supervised by Mark R. Sylvester of the Crypto Assets and Cyber Unit and Carolyn Welshhans.
The SECโs statement urging caution regarding potentially unlawful celebrity-backed crypto asset offerings can be found here. SEC Chair Gensler today published a video warning investors not to make investment decisions based solely on the recommendations of a celebrity or influencer.
#INTERNATIONAL_TECH_NEWS #must #AMERICAN_CELEB #CRIMINAL #SEC #charges #Kim_Kardashian #unlawfully #Crypto_Security
WHAT GOES UP #MUST COME DOWN! They just keep piling up don't they??
ANOTHER #AMERICAN_CELEB #CRIMINAL!
#SEC #Charges #Kim_Kardashian for #Unlawfully Touting #Crypto_Security
Washington D.C., Oct. 3, 2022 โ
The #SEC today announced charges against #Kim_Kardashian for #touting on #ocial_media a crypto asset security offered and #sold by #EthereumMax #without_disclosing the #payment she received for the #promotion..
#promotion #payment #without_disclosing #EthereumMax #sold #ocial_media #Touting #Crypto_Security #unlawfully #Kim_Kardashian #charges #sec #Criminal #AMERICAN_CELEB #must #INTERNATIONAL_TECH_NEWS
Italy: Kim Kardashian allegedly imported stolen Roman statue
#Italy #Italia #Rome #Roman #Kim_Kardashian #LA
https://www.europanews20.com/2021/05/italy-kim-kardashian-allegedly-imported.html
#la #Kim_Kardashian #roman #rome #italia #Italy