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One of the world’s popular action movie actors must pay the full penalty imposed for promoting a digital currency ICO, a U.S. federal judge has ruled. Steven Seagal got into trouble for touting Bitcoiin2Gen’s ICO and even though he agreed to pay over $300,000 in fines, he has since relocated to Russia and stopped the payment.
The veteran actor caught regulators’ ire when he started touting Bitcoiin 2nd Generation (Bitcoiin2Gen) as an unmissable investment opportunity, and even went as far as issuing a press release to announce that he was B2G’s brand ambassador. What he failed to mention was that he was receiving $250,000 in cash and triple that amount in B2G tokens.
The U.S. Securities and Exchange Commission (SEC) would, later on, crack the whip and charge him for this. The case, just like many others the securities regulator pursues, eventually ended up in a settlement. Seagal agreed to pay $157,000 in disgorgement and a similar amount…
