Segal Stephen (Steven Seagal)

Segal Stephen (Steven Seagal)

Biography

2020: A fine of $314 thousand for advertizing of cryptocurrency

At the end of February, 2020 a star of fighters of the 90th Steven Seagal was fined by Securities and Exchange Commission USA (SEC) because of promotion cryptocurrencies on social networks. Seagal will pay $314,000, and he is forbidden to advance any currency - digital or other - within three years.

Segal "tried to hide from investigation what to it was promised by $250,000 cash and B2G tokens for $750,000 in exchange for advertizing campaigns", the Securities Commission reported. "The investors who paid attention to its advertizing had the right to know about payments which were received by Segal really to estimate his impartiality".

Segal became the promotion agent of the Bitcoiin2Gen brand in February, 2018. In the declaration where Segal called "Zen master", the company stated that Segal absolutely agrees with the mission of the company. Segal began to advance bitcoins in several months after the Commission on the exchanges referred cryptocurrency to category of securities. The Bitcoiin2Gen company received in March, 2018 the order on the termination of "the fraudulent offer of the unregistered securities in violation of the law about securities". According to Coindesk, a term of office of Segal as the representative of a brand ended in the same month.

According to the federal law, any person who is engaged in advertizing of cryptocurrency also should specify all types of compensation which he receives for promotion. According to the Securities Commission, Segal of it did not make. Segal did not recognize and did not disprove outputs of SEC, but promised to pay $157,000 which he earned as a result of the agreement with Bitcoiin2Gen; this amount is about 20% of that payment which he had to receive in currency from Bitcoiin2Gen. Segal also promised to pay a penalty in the amount of $157,000.^[1]

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