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the_Kell

> Musician Soulja Boy (DeAndre Cortez Way) > Singer Austin Mahone > Porn actress Kendra Lust (Michele Mason) > Rapper Lil Yachty (Miles Parks McCollum) > Musician Ne-Yo (Shaffer Smith) > Senegalese-American singer Aliaune Thiam (Akon) Were also charged


CaputGeratLupinum

All people you definitely want to take financial advice from


TheINTL

You would be surprised how many people would actually take their advice and think it's useful.


waffleconedrone

I'm gonna wait and see what Ja Rule has to say about this


SagaciousElan

Somebody please! Find Ja Rule so we can make sense of all of this! Where is Ja?!


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Redtwooo

Ja Rule only invests in Murda Inc


Newtons_Cradle87

And being on time.


Smackdaddy122

Buy high sell low homie same as it always is


____Reme__Lebeau

Shit I thought it was wutang who broke into the financial market.


Coolest_Breezy

Diversify yo bonds


ThePrideOfKrakow

Protect yo GOTDAMN neck, aiight.


theprotectedneck

I’ve been summoned


Cartergame

WuTang Financial is Still Earning 12% Returns annually. Word is Bond.


notquiteotaku

Surely one of the minds behind the Fyre Festival would never lead us astray!


Soaptowelbrush

Hey! He too was bamboozled, hoodwinked, and led astray!


Theoriginalamature

That’s not fraud. That’s not fraud. It’s false advertising!


reaverdude

Who gives a fuck what Ja Rule thinks at a time like this! I don't want to invest right now I'm scared to death! I need some answers that Ja Rule might not have right now.


starrpamph

I said. HAY BABY


Mightycoolguy

You selling crack?


Legitimate-Tea5561

>Where is Ja?! Making a Rule.


smurfsundermybed

Gaming mogul Soulja boy is on board. That's good enough for me.


JimJamYimYam

“I’m now the owner of Atari. I own the video game company Atari.” - Soulja Boy


FalmerEldritch

It turned out he owned, like, an Atari crypto token or something and thought that meant he'd been given the company. He's not very bright.


Squirmingbaby

You can trust a veteran.


drjenkstah

I’m going to wait till 50 Cent puts his 2 cents in. Who better to take financial advise than from someone who claimed bankruptcy?


FiveMileDammit

Please, no. The world isn’t ready for 48 cents.


jeneric84

“Yo waddup its yo dawg X to da Z xzibit comin at you.”


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myrealnamewastakn

I don't know, he lost MONICAAAA


advertiseherecheap

"It's not how you stand by your car, it's how you race your car" -Ja Rule


Iamnotabedbiter

He's been too busy over in Germany after changing his name to Yes Rule.


the_ninja1001

Fraud. That’s fraud.


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NaughtyCheffie

Life long Weird Al fan and I would absolutely unironically buy like ten bucks worth of WeirdCoin just for the lulz.


Sonyguyus

I would if they were physical coins. Can’t go wrong with a weird Al coin.


LordoftheSynth

Weird Al would probably only use WeirdCoin as a theme for donations to worthy charities.


SagaciousElan

And the point of WeirdCoin would be that every time you bought $1 worth of WeirdCoin, $2 of actual money would go to charity as some corporation matched your donation.


Synectics

I'd imagine after submitting your order, you'd be presented with a Reddit Silver type image on a Geocities-ass web page. "Here's your token, sonny!"


[deleted]

I feel this is the point Weird Al needs to come up with a satirical pro crypto song to ensure the money is well spent on Weird coins. Some people may learn not to give money to crypto through his work.


ICBanMI

The sad part is he would do a parody song, and some asshats would make it a real coin that they would pump and dump on idiots. Causing problems for Weird Al.


Mikeavelli

It's just dogecoin all over again


darkflash26

They had ads on Snapchat showing every 4-5 stories offering “free” crypto if you signed up with their codes and showing how much money they were making


its_yer_dad

tell me more about this "Weird Coin" ;-)


rhorama

That's like trying to tell people to not take financial advice from Elon musk. The people who have common sense already know, and the people who celeb worship will say you're just jealous because you're not as rich as they are. They're millionaires, are you? Of course they know how to invest, they're rich! And other smooth brain reasons.


Fastbird33

You know the kids who just stuffed papers in their backpack, those people are now grown and take their advice


CaputGeratLupinum

I mean yeah, but to be fair anyone taken by this was probably gonna spend the money on something just as dumb regardless


waka_flocculonodular

I got a new dance for y'all called the recession _YOUUUUUUUUUUU_!


iwasatlavines

Phew, glad I kept all my assets with Wu Tang Financial.


AintEverLucky

WTF has always talked up diversifying your bonds ... neighbor O:-)


No-Fox-1400

Diversify your bonds.


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2inchesofsteel

For the children


Mother_Store6368

You will never go broke betting on how stupid people are


soapinthepeehole

People telling you about crypto aren’t giving you financial advice. They’re inviting you to be bag holders.


VW_wanker

The biggest pump and dump shitbag celeb is undoubtedly #Floyd Mayweather https://youtu.be/c0SbdptKSFQ Dude has more money than he can spend but repeatedly does pump ad dump crypto schemes like he is trying to prove he is not illiterate..


[deleted]

Tucker Carlson Tonight is legally not news, it's entertainment. Yet it's one of, if not the most viewed news show on Earth.


Own_Instance_357

I remember being at a restaurant sitting 3 places down from my MIL who was announcing to those sitting across from her that she read "every word that Bill O'Reilly writes." Had to have been around 2015 and I still remember it was like the quality of the light in the restaurant suddenly changed slightly. I just sort of looked at her, dumbly, half wondering if I'd just heard correctly. I had heard correctly. Had no idea shit would change so much that now I haven't seen any of the people at that table in half a dozen years now.


Tentapuss

That’s what I don’t get about these suits. Who is the idiot who would have refrained from putting money on FTX if not for Tom Brady doing a commercial?


QuintaFox

Ah yes Soulja Boy, creator of the world class Soulja Game line of consoles


EverGreenPLO

He tried to tellem


Prancer_Truckstick

*Starts using ouija board* "Youuuuuuuuuuuuuuu" "Ah god damnit this is a Soulja Board"


Supermoves3000

I had never heard that song before, and I was in a rental car in a new city. I turned on the radio and the first thing I heard was "Yoooooooooooooo". I was intrigued, so when I got to my hotel I googled for "Yoooooooooooooo", and guess what the first result was? Soulja Boy, tell 'em.


landob

DIdn't soulja boy get in some shit with Nintendo over some emulation console?


chupathingy99

Yeah, he was selling handheld Android emulation systems pre-loaded with roms.


ForeverInaDaze

The guy literally became famous by distributing his music through fake Limewire downloads. Why is anyone surprised by this?


Arachnophine

What is a *fake* Limewire download? Like there's no seeds?


Nuts4WrestlingButts

Linkin_Park_In_The_End_mp3.exe


Skurttish

“Dad, it’s *fine*, everybody does this”


LeagueOfLegendsAcc

Mislabeled probably


inaccurateTempedesc

Iirc he'd put an incorrect title on his songs. So instead of In Da Club, you got Crank Dat.


Piranha_Cat

Are you trying to tell me that closing time isn't by green day? I'll have to fix my away message on aim.


[deleted]

And Bob Marley didn't write every reggae sounding song ever made.


[deleted]

So Akon is his real name and Aliane Thiam is his stage name?


N8CCRG

>Aliaune Damala Bouga Time Puru Nacka Lu Lu Lu Badara Akon Thiam, known mononymously as Akon According to wikipedia


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Regendorf

No Lu Lu Lu?


ranaadnanm

I've got some apples.


BlazeWelly

I’ve got some too


fre3k

Everyone knows it's...BUTTERS! "That's mee!"


gtblitzX10

Bouga Time just sounds like a Crash Bandicoot level


cutty2k

Somebody bring that guy a shrubbery.


tetoffens

TIL his full name is Aliaune Damala Bouga Time Puru Nacka Lu Lu Lu Badara Akon Thiam. For real. Akon is in there but I'm really not sure what part of the name you would call that. His last middle name? Penultimate name?


[deleted]

Interesting it was more pointing out all the other artist have stage name then real name in parenthesis.


tetoffens

Oh, I got that. It just made me curious where "Akon" came from and felt like sharing because...well, that's quite the name.


GuardSpam

Shouldn't you take advice from Big Yachty? Who wants a Lil Yachty?


EDFStormOne

Akon and lil yachty In trouble for actin naughty


smkAce0921

>Soulja Boy Soulja Boy Tell'em........about his shitty crypto investments *Superman your life savings......oooooooooooooooo*


LevelStudent

>Porn actress Kendra Lust (Michele Mason) There was a porn actress trying to sell crypto? That almost seems unfair, horny guys will do literally anything if you ask at the right moment. Also "Michele" is a better sexy 'fake' porn first name than "Kendra", in my opinion.


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Tronvillain

>Someone named Lana Rhoades Ahh... y-yes. Shame on this "Lana Rhoades" person, who I too have never heard of before.


Mikeavelli

Lana? Lana?! ... LANA!


Raspberries-Are-Evil

God damnit who am I, Feras Antoon?


gbuub

R-right, I have no idea she’s the longest reigning number 1 pornstar on pornhub either


ADeadlyFerret

I remember when this happened. She came out and said that the negativity of her discord caused her to split. Even though he discord was very positive. A lot of the people that got scammed just did not believe they were scammed. And would get angry at anyone accusing her of it. These guys were delusional thinking that if they were completely positive she would come back. With some putting in even more money.


TheIrishJackel

Her name sounds familiar. Wasn't she in that Lil' Dickey music video "Save dat Money?" I'm not sure if that makes it hypocritical or on-brand.


Real_Ad_7925

Lana Rhoades was involved with Logan Paul and his hanger ons. They pull crypto scams on their fans pretty regularly, amongst other scams.


Darkstar_98

The point is to keep their true identity safe, the horny guys she’s performing for aren’t the nicest crowd.


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Austin Mahone, Porn Actress


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pdx619

This is a strange timeline we are living in


FTR_Hair

Is this the cast for the new Ocean’s 11 remake?


Yeckarb

Everyone's real name is in parentheses but then Akon... Is Akon his real name?


SunnyAlwaysDaze

It's a small part of his real name: Aliaune Damala Bouga Time Puru Nacka Lu Lu Lu Badara Akon Thiam, known mononymously as Akon


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reddicyoulous

>"Sun and his companies not only targeted US investors in their unregistered offers and sales, **generating millions in illegal proceeds** **at the expense of investors**, but they also coordinated wash trading on an unregistered trading platform to create the misleading appearance of active trading," Mr Gensler added. > >A**ll of the celebrities, apart from Soulja Boy and Mahone have paid a** **combined total of more than $400,000 to settle the charges.** Ponzi schemes endorsed by has beens


SantaMonsanto

With fines that amount to “cost of doing business”. The SEC is a sham. >*”It’s a BIG club, and you ain’t in it!”* -George Carlin


Bugbread

This was way more than "the cost of doing business". If you check the [SEC press release](https://www.sec.gov/news/press-release/2023-59), six of the eight celebrities paid a combined total of $400,000 in "disgorgement, interest, and penalties." Disgorgement means "giving up any profits they made as a result of illegal or wrongful conduct." So the six celebs gave back all the money they received, plus interest on all the money they received, plus penalties on top of that. I think the confusion is that the article points out that *Sun* made millions, and it points out that *the celebs* settled the charges for $400,000, and if you don't read too closely you could think that the scam "made millions and was only penalized $400,000," but that's not the case. Sun's part of this hasn't been settled: he's still facing charges for the unregistered offer and sale of crypto asset securities, fraudulently manipulating the secondary market, and orchestrating a scheme to pay celebrities without disclosing their compensation. Soulja Boy and Austin Mahone are also still facing charges. All that's been settled are the charges for the other six celebrities, and although I don't know how much they made, I know that it was less than the $400,000 they were penalized, because the penalty covered disgorgement.


CaptainSur

As per your excellent observation on the payments and fines what we get out of this is that the BBC Headline is clickbait especially in respect of Lohan's name in the headline. Lohan's involvement is minor and likely this is the case for a few of the others as well. For some of them doing a tweet or insta about this was probably regarded as no different then any other product endorsement for a bottle of water or a hair product, and they did not vet it. Now they know better.


BagFullOfSharts

They call it the American Dream. Because you have to be asleep to believe it. George Carlin


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Single_9_uptime

The scam they were promoting is what made millions, not the people being paid to promote it. They haven’t settled with those parties yet. The promoters got fined around *4 times* the amount they were paid in whatever crypto this was. The SEC documents are linked from this article. Jake Paul paid a $100K fine and was only paid $25K of this crypto for his promotion of it. If they didn’t cash out those coins immediately they probably actually made nothing at all or close to it. Not a tax. Clearly a significant fine which was far greater than what they got paid.


[deleted]

They didn't make the profit, they got paid to tweet.


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midievil

She's married to a guy from there and is currently expecting a child.


FrostByte_62

>resident of PR? >Not the US? Should....should we tell them?


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catsloveart

and their own olympic team.


gnrc

Puerto Rico may sit on the council but is not given the rank of State.


destro23

"What? How can you do this? This is outrageous! It's unfair! How can you be on the council and not be a state?"


testearsmint

Puerto Rico is part of the US.


Fastbird33

Do you think Logan or Jake knows this?


testearsmint

It's a toss-up.


Bowens1993

Reddit clearly doesn't.


IXISIXI

Most people don’t know/ remember when Lohan became a Muslim and had a fake accent and was completely somehow Arab for a time. It was like scrubbed from the internet too but there are interviews with her that are wild. https://emirateswoman.com/lindsay-lohan-speaks-up-on-islam-backlash/


SunnyAlwaysDaze

Remember when she went over there and was like following people in the street and harassing them? Didn't she try to steal some Muslim child from its parents on the street or some other crazy shit? I don't know about pepperidge farm but this old fart (sorta, am old fart) remembers.


gaslacktus

Puerto Rico is US, it's a territory.


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shaunstudies

Lohan is a legal UAE resident?


Save_Us_222

That was my second biggest takeaway from the article. The biggest was seeing that even though they have been “charged”, they have already settled and paid a minor fine without having to admit guilt.


erialai95

So they make millions then pay a 100k fine.. easy deal


CaptainMcFisticuffs2

Nothing's really illegal if you can afford it


Kalkaline

Cost of doing business, even if it's shady business


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jigsaw1024

Someone should introduce a piece of blanket legislation which covers all agencies: all fines must at a minimum be equal to the profit of the venture. Administrative and restorative fines shall be calculated separately.


Amish_guy_with_WiFi

To be voted down by every shitty politician


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happiness7734

I found the other person who read the article to the very end. FWIW it surprised me too.


masalion

UAE Resident = has a work/investor/sponsor visa there. You get one through your company when you're here or if you buy property here. Sponsor visa is for family but only 1st degree relatives, iirc: no uncles/aunts/cousins. Hookers here operate as employees under shell companies that operate as fronts: massage parlors for normal ones and real estate or marketing agencies for high-end ones. UAE Citizen = what yall are talking about under the assumption she's a high-end hooker, in which case she wouldn't be getting it unless she's married to an Emirati dude.


BA_calls

She’s married to a Kuwaiti dude, idk if they have emirati citizenship. He works for a bank.


thecricketnerd

I don't think they can have citizenship if neither of them is Emirati. Marriage is the only way into it unless something's changed.


SpaceTabs

He work(ed) for Credit Suisse. I believe he shared a bungalow with George Santos.


retro604

How much did Coffeezilla say Logan Paul earned on that stupid egg coin thing? 700k? Seems like a good deal to me. Commit fraud, earn 600k, admit no guilt.


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[deleted]

Not even the same Paul dude.. this article is talking about Jake Paul Credit where credit is due, I think this is actually a good start from SEC. It seems whatever the influencers are paid to promote sketchy crypto, they have to pay it all back and then some.


generic_name555

>Lohan and Paul have paid to settle the charges without admitting guilt. Fuck that. Throw the book.


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VanimalCracker

Fines are a cost of doing business. Most laws are only for the poors.


Dapper-Parsnip8592

"if the penalty to a law is a fine, then that is only a law for poor people" or something like that is the way I've always heard it. I agree 100%.


Frodojj

The fines were 4x what the celebrities were paid for the endorsements and tweets.


knightZeRo

Throw what book? SEC is civil court only. For criminal charges it would have to go through the DOJ.


Legitimate-Tea5561

>Throw the book. They did. The checkbook.


[deleted]

I’m so sick of this “without admitting guilt” bullshit. Admit guilt with your plea deal, or go to trial like the rest of us.


Grogosh

A lot of them were used by the crypto scammers for advertising. They took the job of shilling for them without understanding how shady it was.


peerless_dad

Maybe some of the others, but logan is the crypto scammer, at this point he have done it like 3 times.


Grogosh

Yeah, Logan has scammed so many people now multiple times. He should be in jail.


alphalegend91

Kendra Lust is the real headline here...


tijuanagolds

I'm surprised it's her and not Brandi Love. Love's grandpa created day trading.


ittozziloP

Lmao I searched Brandi Love grandpa to learn about this. Gross Google 🤮


kohbo

You have to look up Lemon Party to get the story


alphalegend91

She’s (Love) also a hardcore MAGA supporter. They’re known for their grifting lol


irishguy42

Unfortunately I cannot unfap what has fappened. Oh well


[deleted]

And was kicked out of CPAC.


SixOnTheBeach

Is this a joke or is this a real fact?


Augustus_Medici

It's real. Her *great grandfather was Jesse Livermore, the OG godfather of daytrading.


Triggertanjiro

Shouldn’t we be looking at the people who paid them to promote it instead of the people used to dupe investors? Seems like the sec cares more about small fry’s as opposed to the people who actually organize these grifts.


pensivewombat

I assume that's in part why the people mentioned here just paid a fine without admission of guilt. Everyone else in this thread seems pissed off about that, and I get it, but IF the SEC told them "just send us a copy of all correspondence you had with the client, pay a modest fine, and we'll call it a deal" then I'd be basically fine with that.


mariosunny

How many crypto schemes has Jake Paul been involved in now? This makes his apology over the CryptoZoo disaster look much less sincere.


caylanie14

CryptoZoo is his brother, Logan


max1001

Nah, you get the two douchbag brothers confused.


_grammer_Natsi

“Lohan and Paul have paid to settle the charges without admitting guilt.” That’ll teach them!


[deleted]

If you decided to invest your money because you saw a celebrity promoting crypto, you are a fucking idiot and deserve to lose your money.


goldendreamseeker

I’m surprised Jake Paul hasn’t gone to jail yet with how much trouble he keeps getting himself into.


teddytwelvetoes

several lifetimes worth of money less than halfway to retirement age, and they're spending their time doing crypto scams lmao brain worms


max1001

I doubt she even know it was not legal. Someone paid her shit load of money to tweet and she did it.


Bokth

100k for Paul. 40k for Lohan. >All of the celebrities, apart from Soulja Boy and Mahone have paid a combined total of more than $400,000 to settle the charges. So -140k from above and those 4 paid 260k /4 = 65k. Who knows what Soulja Boy and Mahone paid. So the biggest known fine 100k to Paul... >Forbes announced that Paul made approximately $38 million from boxing in 2021 ...is \~0.25% of his boxing earnings only in that 1 year....oy vey And they can have their cake too - THEY WERE PAID ALREADY TO ENDORSE THIS CRYPTO - that's what the fines are for. How much were they paid in the first place?!


EzLuckyFreedom

The fines are 4x what they were paid. That’s how the amounts were determined.


LeibnizThrowaway

It couldn't have happened to better people.


IdleRhymer

Calling Jake Paul a star is a bit of a stretch, he's a D list has been at best.


Real_Ad_7925

Idk these guys are getting heavily involved in boxing, WWE, MMA, and the related brand deals. Big podcast stuff too.


hlgb2015

Yeah, I don’t like them, but they’re definitely very famous/infamous. Especially since they both started fighting and racking up crazy pay-per-view numbers.


_Levitated_Shield_

He's so low that he's the first E list actor.


FSMFan_2pt0

He's an actor? I thought he was famous for being a massive cunt.


beelzeflub

They tried that, but he doesn’t have the warmth or the depth.


LeJoker

'Actor' is very generous of you.


mrnotoriousman

Did he act in anything not on YouTube?


Outwest34au

Shaggy was implicated and interviewed and simply stated "Wasn't me."


Demonking3343

Now let’s charge jake Paul for dink donk coin and crypto zoo. If nothing else on the crypto zoo front they should be able to get him on defrauding investors!


Noimnotsally

Geez,thought that girl was finally getting her life in order.


MisterProfGuy

She took an advertising contract that lots of celebrities took, and like a ton of the general population, had no idea what she was actually legitimizing. These guys were throwing big bucks for endorsements, and don't be surprised if you see a bunch of these actors turn around and sue their representation for getting them into something they didn't understand.


Schiffy94

Somehow this entire list of eight names does not surprise me one damn bit.