Apparently Mr. Mayweather was being paid large sums of money to promote certain ICO's and wasn't disclosing this fact to potential investors... Geeze, who would have guessed?
I think anyone seriously involved in crypto's would have realized that these celebrities were being paid to back these ICO's. Personally, any time an ICO came out with some celebrity backing I would turn the other way... The worst being John McAfee and his shit ICO's he was backing.
Back to Mayweather, he was accepting cash from project teams to promote the project and also that his name would be put on the headlines as an investment backer and even sometimes an advisor... Really, Floyd is a financial advisor? Is this a joke?
All this being done to promote the ICO and garnish hype and investments.
Well, the SEC didn't particularly like that.
Furthermore, when one of these so-called ICO's he backed turns out to be a scam... Well, that's when the SEC decided that Mr. Mayweather himself was involved in the fraud.
So you may be asking - what ICO was the problem?
CENTRA
The founders of Centra have been arrested with fraud after raising over $30Million during the ICO period and then subsequently being discovered as a scam.
Basically, CENTRA was a cryptocurrency project touting a debit card backed by VISA & Mastercard and then paid celebrities to promote the project on social media.
Well, CENTRA never had any connection with Visa or Mastercard and was essentially a scam plot from day1, created to dupe investors and make off with tons of cash
$30 Million sounds like a successful Scam ICO to me!
- Get your Centra Card today!
I honestly don't feel bad for these rich idiots who knowingly try to manipulate people into giving there money into a scam. Floyd don't care about your money and screwing you over, he just wants to be paid... and I can only imagine how much cash CENTRA paid him. Truly despicable...
These types of Douche Bag induced scams hurt cryptocurrencies as a whole. Sure $30million is a drop in the bucket when compared to the overall market, but it's the concept that even celebrities are willing to use crypto as a tool to steal and dupe the common investor.
Gives Crypto a bad name
What are your thoughts?
Bitcoin Fanatic