Kim Kardashian, Floyd Mayweather, and former Celtics player Paul Pierce were sued for luring investors to the ill-fated EthereumMax, but are poised to get away scot-free.
TINA.org warned celebrities endorsing NFTs without disclosing their connections and material gains from these projects that they are breaking FTC law.
The investors also sued former NBA star Paul Pierce who also promoted Ethereum Max, which has lost 97% of its value since the celebrities posted ads on social media.
Sohrab Sharma, the co-founder of Centra Tech, reportedly relied on fake partnerships and endorsements from celebrities like boxing champion Floyd Mayweather to lure investors.
The third cofounder of $32 million digital currency scam Centra Tech has changed his plea and is set to plead guilty to avoid his scheduled November hearing.
Robert Farkas, the co-founder of Centra Tech has pleaded guilty to two counts of fraud, each carrying a five year sentence for his role in the $32 million scam.
The co-founder of Centra Tech, a digital currency scam that raised $32 million in its ICO after celebrity endorsements, has agreed to plead guilty to fraud.
The crypto scheme, backed by celebrities including Floyd Mayweather and DJ Khaled, is accused of running an ICO scam with the intent of defrauding unsuspecting investors.
Floyd Mayweather, DJ Khaled, and two Centra Tech employees escaped repercussions with respect to a lawsuit filed against the startup’s fraudulent ICO.
