Lindsay Lohan along with other celebrities is in trouble with the law for a case related to cryptocurrencies.
In recent years, it has become common to invest in digital assets as a way to revalue the currency. More and more people are encouraging this type of savings to try to significantly grow their assets or beat capitalism in some way. However, not all sites are safe and many have ended in fraud. Now, Lindsay Lohan along with other celebrities is being prosecuted for allegedly violating securities laws by promoting cryptocurrencies.
Several celebrities, including Lindsay Lohan, Jake Paul, and Soulja Boy, were prosecuted in the United States for a case related to the promotion of cryptocurrencies and we will tell you what is known. The United States Securities and Exchange Commission (SEC) has charged several people, including celebrities, for allegedly violating securities laws by promoting cryptocurrencies.
The SEC revealed that charges have been filed against eight celebrities in connection with a broader investigation into cryptocurrency entrepreneur Justin Sun and three of his companies that market the Tronix and BitTorrent brands.
The SEC accused eight celebrities of "illegally promoting TRX and/or BTT without disclosing that they were compensated for doing so." Likewise, the celebrities would not have reported the amount they were paid to promote the cryptocurrencies.
In addition to Lohan and Paul, Austin Mahone, Akon, Soulja Boy, and adult film star Kendra Lust, as well as Ne-Yo and Lil Yachty were charged. According to Variety, all but Mahone and Soulja Boy reached settlements with the SEC, including the return of $400,000 plus interest and penalties.
