The US Securities and Exchange Commission (SEC) fined NBA player Paul Pierce $1.4 million for the illegal promotion of EthereumMax (EMAX), warning other celebrities.
In a statement published on its official website on February 17, the SEC announced that the NBA team plays for the Boston Celtics. Paul Pierce For not stating that it promotes the EMAX cryptocurrency as part of its sponsorship agreement. 1.4 million dollar to a fine announced that he had been shot. The famous actor has not made any statements about the accusations against him. did not defend. However, it does not allow the fine and the ban on the promotion of crypto securities for 3 years. he accepted.
The institution shared about Pierce’s EMAX on Twitter, the social media platform. misleading And incentive He claimed that he used offensive expressions. According to the claims of the SEC, the famous actor is for promotion. 244 thousand Even though he was paid with EMAX worth of dollars, this information He chose to hide. In addition, EMAX invests more than it normally would. much more a screenshot showing manipulation misled users.
pierce, 1.1 million In addition to the dollar fine 240 thousand dollar liquidation fee and some with interest together in total 1.4 million In addition to the dollar fine 3 years any crypto security prohibition of publicity he accepted.
SEC official Gurbir Grewal, whether the person promoting a security for investment purposes is impartial. have a right to know but Pierce has this right exploitation stated that he did.
SEC Chairman Gary Gensler made the following reference to this issue:
Another reminder to celebrities through this lawsuit: The law requires you to publicly disclose who and how much you’re getting paid to encourage investment in securities. Also, you can’t lie when you recommend a security to investors.
Recently Kim Kardashian to the SEC in the face of a similar accusation. 1.26 million He had agreed to pay the dollar fine.