Lindsay Lohan Among Celebs Sued By SEC Over Crypto Sales

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Lindsay Lohan (Photo by Robin Marchant/Getty)

Ed. note: Welcome to our daily feature, Quote of the Day.

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From the outset, she cooperated with the SEC’s investigation and ultimately agreed to disgorge the small amount of money she received and paid a fine to resolve this matter.

— Andrew Brettler, an attorney for Lindsay Lohan, in comments given concerning his client’s decision to settle a case with the Securities and Exchange Commission, without admitting wrongdoing. Earlier this week, the SEC charged Chinese cryptocurrency entrepreneur Justin Sun with fraud, accusing Lohan and a host of other celebrities — including Soulja Boy, Akon, Austin Mahone, Ne-Yo, Jake Paul, Lil Yachty, and Kendra Lust — of illegally promoting his crypto assets. Brettler said Lohan was unaware of SEC’s disclosure requirements until last March. All but Soulja Boy and Mahone agreed to settle, together paying more than $400,000.

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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.

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ATL Finance, Cryptocurrencies, Finance, Finance Docket, Lindsay Lohan, Quote of the Day, Securities and Exchange Commission