Eight celebrities, including Jake Paul and pornstar Kendra Lust, charged for “illegally touting” crypto scheme

Jake Paul in his boxing fight against Tyron Woodley. Photo: Showtime

YouTuber turned professional boxer Jake Paul is charged by the Securities and Exchange Commission (SEC) for “illegally touting” a cryptocurrency scheme.

According to a press release from SEC, Paul is in a group of eight celebrities that were charged.

“The SEC simultaneously charged the following eight celebrities for illegally touting TRX and/or BTT without disclosing that they were compensated for doing so and the amount of their compensation.”

Besides Paul, the list includes singer Austin Mahone, hip-hop stars Soulja Boy, Lil Yachty, Ne-Yo, Akon, actress Lindsay Lohan and adult film star Kendra Lust.

According to the press release, the charged celebrities, with the exception of Cortez Way and Mahone, “agreed to pay a total of more than $400,000 in disgorgement, interest, and penalties to settle the charges, without admitting or denying the SEC’s findings”.

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Jake Paul lost against Tommy Fury in February

In his last boxing bout, in Saudi Arabia, Jake Paul faced Tommy Fury, brother of heavyweight champion Tyson Fury.

After eight rounds, Fury stood as the winner via decision. With the loss, Paul’s unbeaten streak came to an end and he is now 6-1 as a professional boxer.

Jake Paul has also fought former UFC fighters like Anderson “Spider” Silva, Tyron Woodley and Ben Askren.

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