Lindsay Lohan, Jake Paul, Lil Yachty and adult film star Michele Mason (Kendra Lust) are among eight celebrities hit with charges this week from the Securities Exchange Commission. The group were caught up in the SEC's investigation into Justin Sun, the owner of BitTorrent and the Tron blockchain platform, and their respective crypto assets BTT and TRX.
The SEC claims the celebs were being paid to promote BTT and TRX, which are considered a security, but failed to properly disclose that to investors (i.e. their audiences and followers). Six of the stars have agreed to pay out more than $400,000 to settle the claims: Paul, Lohan, Yachty, Mason, rapper Akon and R&B artist Ne-Yo. None of the six admitted or denied the claims.
