Lindsay Lohan, Other Celebs Sued For Touting Crypto

Lindsay Lohan, Jake Paul, Ne-Yo and rapper Lil Yachty are among the eight notable names who have been hit with Securities and Exchange Commission (SEC) charges for violating securities laws in touting cryptocurrencies, Cynthia Littleton reported for Variety.

Photo Insert: The SEC on Wednesday disclosed that charges were filed against eight celebrities in connection with the broader investigation of crypto entrepreneur Justin Sun and three of his companies.

The SEC on Wednesday disclosed that charges were filed against eight celebrities in connection with the broader investigation of crypto entrepreneur Justin Sun and three of his companies: Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc., which marketed crypto asset securities under the brand names Tronix (TRX) and BitTorrent (BTT).

The eight were charged with “illegally touting TRX and/or BTT without disclosing that they were compensated for doing so and the amount of their compensation,” according to the SEC.

The list also includes rapper Soulja Boy, singers Austin Mahone and Akon, and adult film star Kendra Lust.

All but Mahone and Soulja Boy (aka DeAndre Cortez Way) have reached settlements with the SEC that involve “more than $400,000 in disgorgement, interest, and penalties to settle the charges, without admitting or denying the SEC’s findings,” per the SEC.

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