Promoted Illegal Cryptocurrency Scheme, Didn't Report Payments! 6 well-known characters as singers, actors and musicians are involved in serious accusations

The US commission has accused Lindsay Lohan, Jake Paul and several other celebrities of failing to disclose that they were paid to promote cryptocurrencies. The celebrities agreed to pay $400,000, including fines, and return what they were paid for the promotion. Lohan was paid $10,000 to promote Tronix tokens offered by Justin Sun's company Tron.

A spokesperson for Lohan said the latter "was contacted in March 2022 and was unaware of the disclosure request. She agreed to pay a fine to settle the case.”

Other accused persons:

-Musician Soulja Boy (DeAndre Cortez Way)

-Singer Austin Mahone

- Porn actress Kendra Lust (Michele Mason)

-Rapper Lil Yachty (Miles Parks McCollum)

-Musician Ne-Yo (Shaffer Smith)

-Senegalese-American singer Aliaune Thiam (Akon)

The group is accused of illegally promoting the crypto assets TRX and BTT "without disclosing that they were compensated for it and the amount of their compensation," the SEC said.

Justin Sun, a crypto investor and diplomat for the Caribbean island nation of Grenada, is also accused of fraud by manipulating the trading activity of two tokens to make it appear as if they were being actively traded in a crime known as "clean trading ".

His companies, Tron Foundation Limited, BitTorrent Foundation Ltd and Rainberry Inc (formerly BitTorrent) - are also accused of being part of the scheme.

All the celebrities except Soulja Boy and Mahone have paid a total of more than $400,000 to drop the charges.