KVSP Lindsay Lohan and others charged in crypto violation complaint
Written by ABC Audio ALL RIGHTS RESERVED on March 23, 2023
Mean Girls actress Lindsay Lohan, is among eight celebrities charged with cryptocurrency violations by the Securities and Exchange Commission.
Lohan and the other celebrities were charged in connection with a broader investigation of crypto asset entrepreneur Justin Sun and three of his companies — Tron Foundation Limited, BitTorrent Foundation Ltd. and Rainberry Inc. — for the unregistered offer and sale of crypto asset securities, as well as spearheading a scheme to pay celebrities to tout such assets without disclosing their compensation.
In addition to Lohan, The SEC announced charges against Soulja Boy, Austin Mahone, Lil Yachty, Akon, Ne-Yo and Kendra Lust for “illegally touting TRX and/or BTT without disclosing that they were compensated for doing so and the amount of their compensation,” according to the SEC.
With the exception of Soulja Boy and Mahone — the celebrities have settled with a collective of more than $400,000 without admittance or denial of wrongdoing, the SEC added.
A representative for Lohan said in a statement obtained by Variety that the actor was unaware of any disclosure obligations, adding, “Lindsay was contacted in March 2022 and was unaware of the disclosure requirement. She agreed to pay a fine to resolve the matter.”
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