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It's a shame he hasn't been charged directly, him and all the other high profile "social influencers" that don't make it clear they're being paid to plug some d

It's a shame he hasn't been charged directly, him and all the other high profile "social influencers" that don't make it clear they're being paid to plug some dog shit and haven't done a single bit of due diligence. $32m fine should just about do that. Pure greed.

Alex3917 9y ago
> It's a shame he hasn't been charged directly The SEC is currently only prosecuting the people running the ICOs, prosecutions for the promoters will likely come at a later date.
justaguyhere 9y ago
And this is a guy who is already worth hundreds of millions of dollars. Yesterday there was a report that John McAfee charges $100K+ for a single tweet. There is no limit for human greed I suppose.
wyattpeak 9y ago
Should Federer have to to due diligence on Rolex before slapping one on his wrist? How? What would it involve, and what standards would he be held to when pulled up on charges? This is what the SEC is for - discovering fraud. How is a sportsperson supposed to do due diligence on a security? I could (and probably would) get behind a law requiring people to acknowledge paid endorsements, but requiring them to investigate just seems untenable.
- aje403 9y ago
  Intent. Let the SEC do its due diligence as well and see what turns up to determine culpability.
  - geezerjay 9y ago
    You're admitting that a state institution dedicated to investigate fraud will have to work just to determine if there was actually a problem worth investigating. How on earth could a potential sponsor like the figurative Federed do the same prior to signing an advertisement contract? And should actors shooting ads be subjected to the same demand, or even the typical "9 out of 10 dentists"?
    - aje403 9y ago
      No, I'm admitting that, in the course of an existing investigation attempting to press criminal charges against the scammers, emails may turn up with Mayweather writing "how long does it take me to get paid after you con these idiots? How else can I help you guys pump things up quickly and how quickly can I get paid?". Then, maybe they'll decide to charge him with something and use him as a lesson against future promoters. Probably not. We'll see. Either way, they may determine he needs to cough up his profits. Take a look at the Madoff aftermath.

Alex3917 9y ago

> It's a shame he hasn't been charged directly The SEC is currently only prosecuting the people running the ICOs, prosecutions for the promoters will likely come at a later date.

justaguyhere 9y ago

And this is a guy who is already worth hundreds of millions of dollars. Yesterday there was a report that John McAfee charges $100K+ for a single tweet. There is no limit for human greed I suppose.

wyattpeak 9y ago

Should Federer have to to due diligence on Rolex before slapping one on his wrist? How? What would it involve, and what standards would he be held to when pulled up on charges? This is what the SEC is for - discovering fraud. How is a sportsperson supposed to do due diligence on a security? I could (and probably would) get behind a law requiring people to acknowledge paid endorsements, but requiring them to investigate just seems untenable.

aje403 9y ago
Intent. Let the SEC do its due diligence as well and see what turns up to determine culpability.
- geezerjay 9y ago
  You're admitting that a state institution dedicated to investigate fraud will have to work just to determine if there was actually a problem worth investigating. How on earth could a potential sponsor like the figurative Federed do the same prior to signing an advertisement contract? And should actors shooting ads be subjected to the same demand, or even the typical "9 out of 10 dentists"?
  - aje403 9y ago
    No, I'm admitting that, in the course of an existing investigation attempting to press criminal charges against the scammers, emails may turn up with Mayweather writing "how long does it take me to get paid after you con these idiots? How else can I help you guys pump things up quickly and how quickly can I get paid?". Then, maybe they'll decide to charge him with something and use him as a lesson against future promoters. Probably not. We'll see. Either way, they may determine he needs to cough up his profits. Take a look at the Madoff aftermath.