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Actor Steven Seagal fined by SEC for touting bitcoin offering
Gregory Mott, Bloomberg
Published 10:03 a.m. ET Feb. 27, 2020 | Updated 10:05 a.m. ET Feb. 27, 2020
Hollywood actor Steven Seagal agreed to settle U.S. Securities and Exchange Commission claims that he failed to disclose that he was being paid for promoting an initial coin offering conducted by a firm called Bitcoiin2Gen, or B2G.
Seagal was promised $250,000 in cash and $750,000 worth of B2G tokens for promotions including social media posts urging fans not to miss out on the firm’s ICO and a press release identifying him as its brand ambassador, the SEC said in a statement Thursday.
He agreed to settle without admitting or denying wrongdoing, and will pay a $157,000 fine and the same amount in disgorgement, the regulator said.
To contact the reporter on this story: Gregory Mott in Washington at gmott1@bloomberg.net
To contact the editors responsible for this story: Jesse Westbrook at jwestbrook1@bloomberg.net, Gregory Mott
2020 Bloomberg L.P.
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