Controversy continues to hound Floyd Mayweather Jr., this time in the form of a heavy set of penalties that were handed down by the Securities and Exchange Commission.
Mayweather had failed to disclose the fact that he was advertising cryptocurrencies while receiving undisclosed payments. Mayweather had allegedly received $100,000.00 from a company named Centra Tech, Inc., which also paid out $50,000.00 to music producer DJ Khaled (another one). Mayweather also failed to disclose another payment from two other companies involved in cryptocurrencies for a total of $200,000.00.
The advertising took place in the form of social media posts, such as this one:
Ever the pioneer, the agency notes that this is the first set of cases they’ve handled regarding ICO violations.