Steven Seagal settles SEC case over not disclosing payments for touting cryptocurrency
The Securities and Exchange Commission said it settled previously undisclosed charges against movie actor Steven Seagal for failing to disclose he was being paid as he touted an investment in an initial coin offering.
An SEC order said Seagal agreed to pay $314,000 in disgorgement and penalties for violating anti-touting provisions of federal securities laws in promoting Bitcoiin2Gen, a cryptocurrency system. The SEC said that Seagal "failed to disclose he was promised $250,000 in cash and $750,000 worth of B2G tokens in exchange for his promotions."
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