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SEC fines Floyd Mayweather, DJ Khaled for not disclosing ICO payments

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DJ Khaled (2nd from left) and Floyd Mayweather (2nd from right) and guests attend an event in Los Angeles in February.

The Securities and Exchange Commission on Thursday brought their first cases over touting violations for initial coin offerings, charging boxer Floyd Mayweather Jr. and music producer DJ Khaled.

The pair were charged with promoting initial coin offerings over social media without admitting they were paid.

According to the SEC, Mayweather failed to disclose a $100,000 payment from Centra Tech Inc. and Khaled failed to disclose a $50,000 payment from the same company.

Mayweather received another $200,000 for promoting two other ICOs.

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