Paul Pierce, NBA Hall Of Famer, Will Pay $1.4M To The SEC For EMAX Campaign Not Disclosed

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Key Points: Paul “The Truth”, a Hall of Famer in the NBA, agreed to pay $1.4 Million to settle SEC allegations regarding a cryptocurrency he promoted on Twitter.
Pierce allegedly shared a false screenshot of a fraudulent account that showed significantly higher EMAX holdings than his actual account.
Kim Kardashian’s October $1.26 million settlement for using the same money is a parallel to Pierce. Pierce and Kardashian were also charged with fraud in the past year and were sued.
Paul “The Truth”, a Hall of Famer in the NBA, agreed to pay $1.4 Million to settle SEC allegations regarding a cryptocurrency he promoted on Twitter. The SEC accused Pierce of promoting EthereumMax(EMAX) in a fraudulent, misleading manner and failing disclose the $244,000 token payment he received in exchange for his social media promotion. Pierce also tweeted a link that led to the website for the currency. This site provided information about how to purchase EMAX tokens. Pierce was found to be in violation of the federal securities laws’ antitouting, anti-fraud sections. He also tweeted a link to the website for the currency. It contained information on how to buy EMAX tokens. However, he did agree to stop promoting cryptocurrency for three consecutive years. As a parallel to Pierce’s case, Kim Kardashian’s $1.26million settlement in October for using the exact same money serves as an example. “In the past year, Pierce was also accused of participating the fraud and were sued.” Gary Gensler, SEC Chair, stated that celebrities endorse investment opportunities, including crypto asset securities. Investors should be careful to research if the investments are right for them. “When celebrities endorse investment opportunities, including crypto asset securities, investors should be careful to research if the investments are right for them, and they should know why celebrities are making those endorsements.”DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comAnnieCoincu NewsTags: EMAX CampaignNBAPaul PierceSEC