Music producer DJ Khaled settled charges with the U.S. Securities and Exchange Commission (SEC) on Thursday for failing to disclose a payment he received for promoting an initial coin offering (ICO) investment last year.
Khaled received $50,000 (all figures U.S.) for boosting Centra Tech ICO on his social media. He called the company – which was later shut down by the SEC for fraud – a “game changer.”
Khaled settled, without an admission or denial of wrongdoing, by paying $152,725 and agreeing to a two-year ban on promoting securities.