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.
