SEC Still Requires Steven Seagal to Pay Crypto Fine Despite Moving to Russia

Famous actor Steve Seagal is in trouble with the US (SEC) for failing to pay his full fine for illegally promoting an ICO.

celebrity settled the cryptocurrency fraud case in February 2020. And agreed to pay a $ 330K refund. However, according to SEC attorney Maureen Peyton King, Segal only made one payment of $ 75,000 and has yet to settle the remainder of the fine.

Hollywood star moved to Moscow in 2016 after President Putin granted her Russian citizenship. SEC claims the actor has been ignoring any attempts by the agency to contact him.

Segal still on the hook for an unpaid crypto fine

SEC recently won a lawsuit against Seagal, who has been using his residence abroad to ignore court orders to pay his fine for crypto. On August 27, a United States District Court judge ruled that the 1990s actor must pay $ 157,000, along with interest and penalties for the delay in the settlement.

judge unleashed the SEC to seek all means to collect the unpaid balance, including going through the commercial manager of the actor. Failure by Seagal to comply within 30 days could compel the court to enforce the Judgment through other remedies available under United States law.

During the hearing, the agency explained that they had experienced payment problems with Seagal and its representatives for months.

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“Under Siege” actor is under fire for failing to disclose payments of up to $ 250K in cash and $ 750K in tokens for checking an ICO by Bitcoiin2Gen. project has long been exposed as a scam run by Serbian citizens who defrauded investors more than $ 11 million.

former US cop actively supported the ICO and was paid to attract more than 500 investors who were promised huge returns.

SEC Cracks Down On Bitcoiin2Gen Promoters

Bitcoiin2Gen scam emerged during the ICO craze of 2018, promising gains of up to 200% in three months. Since then, the SEC has closed the deal and is actively pursuing the scheme’s promoters.

In February, US law enforcement officers arrested and charged a California resident named John DeMarr. His arrest resulted from his role in coordinating the crypto fraud. He was arrested along with two other executives who helped defraud investors out of millions.

On July 30, the defendant pleaded guilty to conspiracy to commit one count of securities fraud. He faces up to five years behind bars.


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