SEC can collect unpaid ICO promotion fines from Steven Seagal, says judge

Aug 28, 2021 | The Block News | 0 comments

sec-can-collect-unpaid-ico-promotion-fines-from-steven-seagal,-says-judge

Actor Steven Seagal owes the U.S. Securities and Exchange Commission unpaid fines stemming from a settlement related to the promotion of an initial coin offering — and a U.S. judge has empowered the agency to seek collection.

According to Bloomberg, Seagal owes more than $200,000. As previously reported, Seagal settled with the agency after being accused of not disclosing payments related to his endorsement of the Bitcoiin ICO. As part of the deal, he was ordered to pay more than $300,000.

Per the report, Seagal has paid the SEC just $75,000. The agency previously went before a court to detail its payment struggles with Seagal. 

Now, the SEC “can go through Seagal’s business manager to try and collect,” per Bloomberg.

The SEC has gone after other promoters involved in Bitcoiin, which was accused of being a Ponzi scheme. John DeMarr pled to one count of conspiracy to commit securities fraud in July and faces sentencing in January.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

Related Articles

El Salvador brings Chivo ATMs to the US

El Salvador brings Chivo ATMs to the US

El Salvador has brought its Chivo bitcoin ATMs to several U.S. cities, a move aimed at making it easier and cheaper to send remittances abroad to friends and family in the Central American country.  El Salvador now counts 50 of the commission-free Chivo ATMs in 10...

Pin It on Pinterest

Share This