Floyd Mayweather fails to report Crypto earnings to SEC - hit with $600,000+ in fines

giftedgaia (63)in #cryptocurrency • 5 years ago (edited)

Call him "Money" if you want, the SEC has slapped boxing legend Floyd Mayweather with $600,000 fines for failing to report Crypto earnings from ad revenue.

Per the SEC's press release: "Without admitting or denying the findings, Mayweather and (DJ) Khaled agreed to pay disgorgement, penalties, and interest. Mayweather agreed to pay $300,000 in disgorgement, a $300,000 penalty, and $14,775 in prejudgment interest. Khaled agreed to pay $50,000 in disgorgement, a $100,000 penalty, and $2,725 in prejudgment interest. In addition, Mayweather agreed not to promote any securities, digital or otherwise, for three years, and Khaled agreed to a similar ban for two years. Mayweather also agreed to continue to cooperate with the investigation."

Ouch.. guess we may see that Conor v Floyd rematch after all?

Source: https://www.lowkickmma.com/floyd-mayweather-hit-with-over-half-million-dollar-fine-for-sec-violation/?fbclid=IwAR3G47pyOV__limsMKLjxlXG-n4aH9zlEnKp0RFZ1-Wve7S_FKX_O9XLMt0