Lindsay Lohan, other celebs settle with SEC over crypto case

economictimes.indiatimes.com:

Lohan, rapper Akon and several other celebrities have agreed to pay tens of thousands of dollars to settle claims they promoted crypto investments to their millions of social media followers without disclosing they were being paid to do so. Lohan, Akon, recording artists Ne-Yo, and Lil Yachty, boxer and internet personality Jake Paul, and adult film performer Michele Mason all agreed to pay more than USD 400,000 combined in disgorgement, interest and penalties to settle the claims, the Securities and Exchange Commission said Wednesday. None admitted or denied the SEC's findings as part of the settlement. Two other celebrities named in the SEC's complaint, rapper Soulja Boy and pop singer Austin Mahone, did not reach a settlement with the SEC, the agency said. In response to a request for comment, Lohan's publicist Leslie Sloane said the actress was contacted in March 2022, was unaware of the disclosure requirement, and agreed to pay a fine to resolve the matter.

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Lohan, who last week announced she is pregnant, was called to give up the USD 10,000 she was paid, plus interest, and pay a USD 30,000 fine, according an SEC complaint. A spokeswoman for Paul declined to comment. Emails left with representatives for the other celebrities named in the SEC complaint weren't immediately returned Wednesday. In the complaint filed by the SEC in federal court in New York, the agency claims the celebrities were