Kim Kardashian Charged By SEC, Agrees To Pay $1.26M For Unlawfully Promoting Cryptocurrency

Watch Kim Kardashian Charged By SEC, Agrees To Pay $1.26M For Unlawfully Promoting Cryptocurrency - Hollywood Journal on Dailymotion

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00:00And now on to Kim Kardashian because she is facing some heat today.

00:03The Securities and Exchange Commission, also known as the SEC,

00:06has charged the Skims founder for touting on social media a crypto asset security offered

00:11and sold by Ethereum Max without disclosing the payment she received for the promotion.

00:16In other words, Kim is accused of failing to disclose that she was paid $250,000

00:20to promote the cryptocurrency asset. Well, luckily, the mother of four is cooperating

00:25and has agreed to pay $1.26 million in penalties, disgorgement, and interest.

00:30Kim has also agreed to cooperate with the SEC's ongoing investigation into the matter.

00:34Hollywood Life has reached out to her representative for comment and a lawyer for the mogul shared that

00:39Kim is pleased to have resolved this matter with the SEC. She fully cooperated with the SEC from

00:44the very beginning and she remains willing to do whatever she can to assist them in this matter.

00:49Well, this definitely is an industry I will not be going near. Sorry, guys.