Kim Kardashian Has To Pay $1.26 MillionOct 03
Kim Kardashian has to pay $1.26 million to settle her crypto scandal…
- Kim Kardashian has to pay $1.26 million to settle her legal trouble
- The SEC is fining her for promoting a crypto asset security company without disclosing that she was paid
- Kim is settling without admitting any wrongdoing
The SEC found that Kim failed to disclose that she was paid $250,000 to promote EMAX tokens. It is a crypto asset security, which she posts on her Instagram account. Kim promotes products all the time but it’s the nature of this endorsement that caused problems. The SEC chair shared in a statement, “Ms. Kardashian’s case also serves as a reminder to celebrities [and] others that the law requires them to disclose to the public. When [and] how much they are paid to promote investing in securities.”
Kim has not addressed the results of her legal trouble but her lawyer did share their thoughts. They state, “Ms. Kardashian is pleased to have resolved this matter with the SEC.” He added that Kim, “fully cooperated with the SEC from the very beginning and she remains willing to do whatever she can to assist the SEC in this matter. She wanted to get this matter behind her to avoid a protracted dispute. The agreement she reached with the SEC allows her to do that so that she can move forward [and] with her many different business pursuits.”
Despite these legal difficulties Kim seems focused on continuing to live her best life! She is currently in Paris for fashion week with her daughter North West and sisters Khloe and Kylie!