SEC Fines Floyd Mayweather, DJ Khaled for ICO Promotions

The U.S. Securities and Exchange Commission (SEC) has settled charges with professional boxer Floyd Mayweather Jr. and music producer Khaled Khaled – better known as DJ Khaled – for not disclosing that they were paid to promote initial coin offerings (ICOs).

Announced Thursday, the regulator said that Mayweather received $100,000 from Centra Tech, as well as another $200,000 from Stox and Hubii Network. Khaled was paid $50,000 to promote Centra Tech, according to the agency.

The co-founders of Centra Tech were indicted by a grand jury earlier this year on charges of fraud and conspiracy.

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