Celebrities Lindsay Lohan, Jake Paul charged with US crypto violations
FILE PHOTO: Lindsay Lohan visits “The Tonight Show Starring Jimmy Fallon” at Rockefeller Center on 20 August 2014 in New York City. (Photo by Theo Wargo/NBC / GETTY IMAGES NORTH AMERICA / Getty Images via AFP)
Actress Lindsay Lohan, YouTuber Jake Paul, and six other celebrities were charged by the Securities Exchange Commission for touting cryptocurrencies on social media without disclosing that they were paid to do so.
The charges come as part of a case targeting entrepreneur Justin Sun for marketing Tronix and BitTorrent crypto assets without registering with the relevant authorities and for manipulating crypto trading on his platform.
The SEC alleged that Sun engaged in fraud by manipulating the two tokens’ trading activities, creating the appearance of active trading when it did not exist.
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