The United States Securities and Exchange Commission has reportedly charged former Boston Celtic Paul Pierce with making false and misleading statements in promoting the cryptocurrency EthereumMax. Pierce was sued back in May for his involvement and promotion of the “crypto” product.
The SEC found Pierce violated the anti-touting and antifraud rules under current federal securities laws. Pierce promoted EthereumMax on social media without disclosing payments totally more than $244,000 for said promotions.
Pierce has neither admitted nor denied the SEC’s charges, but the NBA Hall of Famer has agreed to pay $1.3 million in penalties and fees.
Celtics Lab 171: On All-Star Week, buyout options, and ditching the interim tag with Gary Gulman https://t.co/YyPU86b9u4
— The Celtics Wire (@TheCelticsWire) February 16, 2023