Kim Kardashian charged by SEC over alleged 'pump and dump' crypto scheme
Kim Kardashian (video screenshot)
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(NEW YORK POST) – Kim Kardashian has landed in hot water with the feds over an Instagram post promoting a cryptocurrency asset that has been blasted by critics as an alleged “pump and dump” scheme.
The Securities and Exchange Commission announced on Monday that it has charged the reality television star and social media influencer “for touting on social media a crypto asset security … without disclosing the payment she received for the promotion.”
The SEC said Kim K “agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate” with the ongoing investigation.
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