Dj Khaled is charged $32 million with fraud case

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Late Tuesday, the Securities and Exchange Commission charged the founders of an ICO, Centra, with fraud, saying the creators raised $32 million from investors with an intricate marketing campaign, including the use of paid endorsements from prominent celebrities such as boxer Floyd Mayweather and singer DJ Khaled.

“We allege that Centra [Tech] sold investors on the promise of new digital technologies by using a sophisticated marketing campaign to spin a web of lies about their supposed partnerships with legitimate businesses,” said Stephanie Avakian, co-director of the SEC’s Division of Enforcement. “As the complaint alleges, these and other claims were simply false.”