Floyd Mayweather & DJ Khaled Settle SEC Charges In Cryptocurrency Case

BYKevin Goddard12.6K Views
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DJ Khaled x Floyd Mayweather
Floyd had to dish out $600K & Khaled another $150K to settle their SEC charges.

It appears both Floyd Mayweather & DJ Khaled have settled their SEC lawsuit in their cryptocurrency scandal. Last year, both Floyd & Khaled took to their social media accounts to promote a crypto coin called Centra. But the problem is that neither star disclosed that they were getting paid to promote the coin, which is federal charge and the Securities and Exchange Commission came looking.

TMZ reports that Floyd received $300,000 to promote the coin and DJ got $50,000, but it turns out the whole company was a giant scam. Luckily for Khaled & Floyd, they have reached a settlement with the SEC to avoid any serious charges, but it definitely hurt their bank accounts.

Floyd reportedly paid $300k in disgorgement (the money he made for promoting the coin) plus another $300k in fines and another $14k in interest. Meanwhile, Khaled paid $50,000 in disgorgement plus $100,000 in fines plus another $2,725 in interest. Mayweather also agreed to not promote any sort of cryptocurrency for the next 3 years, and Khaled agreed to hold off for 2 years.

However, both Floyd and Khaled can now put this behind them and move forward. 

 


Floyd x DJ Khaled

Floyd Mayweather & DJ Khaled Settle SEC Charges In Cryptocurrency Case
About The Author
Kevin Goddard is an editor for HNHH. He keeps you in the loop nightly by updating the site with your favorite songs, videos, mixtapes, and news stories, all while maintaining our social media game to be on point. His appreciation for art, and love for sports & fashion makes this Chicago writer very knowledgeable within the entire urban culture. Some of his favorite Hip Hop artists are Drake, Kanye West, Lil Wayne, A$AP Rocky, Wiz Khalifa, Kid Cudi, Big Sean, Childish Gambino, Miguel, Lupe Fiasco, Common.
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