Kardashian agreed to settle the charges without admitting or denying wrongdoing, the outlet said. He agreed to pay $1.26 million in penalties. The SEC said Kardashian failed to disclose in a June 2021 Instagram post promoting tokens offered by EthereumMax that she was being paid $250,000 for that endorsement. He will pay that amount plus interest, as well as a $1 million fine. “This case is a reminder that when celebrities or influencers endorse investment opportunities, including crypto-asset securities, it does not mean that these investment products are suitable for all investors,” said SEC Chairman Gary Gensler. “Ms. Kardashian’s case also serves as a reminder to celebrities and others that the law requires them to disclose to the public when and how much they are being paid to promote investment in securities,” Gensler added.
Building a business empire
Kardashian, 41, rose to fame through the reality show Keeping Up with the Kardashians, which first aired in 2007. She has since won a number of endorsements and launched her own clothing and fragrance lines, among other business ventures. Last month, it launched a new private equity firm focused on investing in consumer and media businesses. Kardashian is seen Sept. 24 in Milan after a runway show, with Italian fashion designers Domenico Dolce, right, and Stefano Gabbana. (Miguel Medina/AFP/Getty Images) Kardashian is pleased to have resolved the case and is cooperating fully with the SEC, her attorney Michael Rhodes said. “She wanted to put this matter behind her to avoid a protracted dispute. The settlement she reached with the SEC allows her to do so so she can move forward with her many different business pursuits,” Rhodes said in a statement. The SEC issued a statement in 2017 advising investors to “research potential investments rather than rely on paid endorsements by artists, sports figures or other icons.” The US regulator previously fined boxer Floyd Mayweather Jr. and musician DJ Khaled for failing to disclose payments they received for promoting investments in initial coin offerings.
title: “Kim Kardashian Fined 1.26M By Sec For Crypto Promotion " ShowToc: true date: “2022-11-17” author: “Bella Then”
Kardashian agreed to settle the charges without admitting or denying wrongdoing, the outlet said. He agreed to pay $1.26 million in penalties. The SEC said Kardashian failed to disclose in a June 2021 Instagram post promoting tokens offered by EthereumMax that she was being paid $250,000 for that endorsement. He will pay that amount plus interest, as well as a $1 million fine. “This case is a reminder that when celebrities or influencers endorse investment opportunities, including crypto-asset securities, it does not mean that these investment products are suitable for all investors,” said SEC Chairman Gary Gensler. “Ms. Kardashian’s case also serves as a reminder to celebrities and others that the law requires them to disclose to the public when and how much they are being paid to promote investment in securities,” Gensler added.
Building a business empire
Kardashian, 41, rose to fame through the reality show Keeping Up with the Kardashians, which first aired in 2007. She has since won a number of endorsements and launched her own clothing and fragrance lines, among other business ventures. Last month, it launched a new private equity firm focused on investing in consumer and media businesses. Kardashian is seen Sept. 24 in Milan after a runway show, with Italian fashion designers Domenico Dolce, right, and Stefano Gabbana. (Miguel Medina/AFP/Getty Images) Kardashian is pleased to have resolved the case and is cooperating fully with the SEC, her attorney Michael Rhodes said. “She wanted to put this matter behind her to avoid a protracted dispute. The settlement she reached with the SEC allows her to do so so she can move forward with her many different business pursuits,” Rhodes said in a statement. The SEC issued a statement in 2017 advising investors to “research potential investments rather than rely on paid endorsements by artists, sports figures or other icons.” The US regulator previously fined boxer Floyd Mayweather Jr. and musician DJ Khaled for failing to disclose payments they received for promoting investments in initial coin offerings.
