A group of celebrities paid US regulators more than $400,000 in fines after promoting cryptocurrency companies to their millions of followers on social media.
Actress Lindsay Lohan, rapper Akon and singer Ne-Yo have been forced to pay tens of thousands of dollars to settle claims they promoted crypto investments to their social media followers without disclosing they were being paid to do so.
The group of celebrities, which also included rapper Lil Yachty, boxer and internet personality Jake Paul and adult film performer Michelle Mason, agreed to pay more than £325,000 to the US Securities and Exchange Commission .companies Tronix and BitTorrent to their millions of followers on social media.Two other famous figures, rapper Soulja Boy and pop singer Austin Mahone, did not reach a settlement with the SEC.
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