RATE Group | Steven Seagal charged over cryptocurrency offering payments
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Steven Seagal charged over cryptocurrency offering payments

27 Feb Steven Seagal charged over cryptocurrency offering payments

Posted at 16:05h in Cryptocurrency News by

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Actor Steven Seagal

Brett Costello | Newspix | Getty Images

The Securities and Exchange Commission said Thursday that it had settled previously undisclosed charges against faded action movie actor Steven Seagal for failing to disclose that he was being paid as he promoted a cryptocurrency investment.

An SEC order said Seagal, who has agreed to pay $314,000 in disgorgement and penalties, violated anti-touting provisions of federal securities laws during the very brief amount of time he spent as “brand ambassador” for the “Bitcoiin.”

The SEC said that Seagal, a 67-year-old martial arts expert, “failed to disclose he was promised $250,000 in cash and $750,000 worth of B2G tokens in exchange for his promotions” for an initial coin offering conducted by Bitcoiin2Gen, a cryptocurrency system.

Those promotions included public social media account posts that urged people not to “miss out” on Bitcoiin2Gen’s initial coin offering and “a press release titled ‘Zen Master Steven Seagal Has Become…

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