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Even celebrities can be scammed.
At least that’s apparently what happened to boxer Floyd “Money” Mayweather and record producer DJ Khaled, who each posted photos on social media platforms touting a cryptocurrency-related credit card, Centra, whose creators have been charged with fraud by the Securities and Exchange Commission.
The issue was discussed by John Stark, president of Bethesda, Maryland-based John Reed Stark Consulting and former chief of the SEC’s Office of Internet Enforcement in The D&O Diary blog.
Mr. Stark said the two celebrities were both apparently duped by the two alleged swindlers, who have been charged with orchestrating a fraudulent initial coin offering involving the offer and sale of digital assets issued and distributed on a blockchain that raised more than $32 million from thousands of investors.
“Clearly, Mayweather and Khaled could have used a lawyer who better understood the perils of crypto-financing, who might have warned them before they even considered, let alone touted and endorsed Centra,” said Mr. Stark.
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