Kim Kardashian Owes $1.26 Million To The SEC For Not Disclosing Her Paid Cryptocurrency Endorsement

October 3, 2022 / Posted by:

For the past few years, Kim Kardashian has ensured she remains one of Pimp Mama Kris’ top earners by promoting everything from luxury car-approved diapers to reappropriated brand names for her line of war paint. But unfortunately for Kim, she made a deal that was not in her best interest, as she is now on the hook for $1.26 million to the Securities and Exchange Commission for her involvement in promoting cryptocurrency company EthereumMax, or EMAX. But the real reason why she’s being targeted is that she failed to disclose to her followers that she was paid for her endorsement.

According to CBS News, Kim, who has no problem selling anything other than the truth about her fame and appearance, has been asked to dig into her burgeoning BBL budget and fork over $1.26 million because of her deal with EMAX. Apparently, EMAX hired Kim to help promote its cryptocurrency, but she never disclosed the fact that she was paid to do so. And now, because of her dishonesty, she has to pay the SEC.

Kim Kardashian is paying $1.26 million in a settlement agreement with the Securities and Exchange Commission amid charges that she unlawfully touted a cryptocurrency without disclosing she was being paid for the promotion.

Kardashian is paying the settlement without admitting to or denying the SEC’s findings, the agency said on Monday. She also agreed to not promote any crypto asset securities for three years.

The fine is linked to a cryptocurrency called EthereumMax, or EMAX, which was pitched to investors as a disruptive new cryptocurrency. Kardashian was one of several celebrities, along with boxer Floyd Mayweather and former NBA star Paul Pierce, who used their fame to hype the crypto asset and who were the focus of a class-action lawsuit in January over their endorsements.

This isn’t necessarily a new topic since Kim has gotten in trouble with her brand of bullshit and lies before. And since she’s already experienced this, she knows it’s better just to shut up, pay the fine, and move on to the next scam.

At the time she promoted EMAX, Kardashian had roughly 225 million followers on Instagram, according to securities regulators.

“Kardashian promoted a crypto asset security on her Instagram account in exchange for financial payment from the issuer,” the SEC said in a legal document.

The agency said Kardashian will cooperate in its ongoing investigation.

Kim’s lawyer also released this statement:

“Kardashian fully cooperated with the SEC from the very beginning and she remains willing to do whatever she can to assist the SEC in this matter. She wanted to get this matter behind her to avoid a protracted dispute. The agreement she reached with the SEC allows her to do that so that she can move forward with her many different business pursuits.”

After this instance, I’m convinced Kim is actually a robot who gets programmed to make decisions like Viki from Small Wonder. But I’m also very disappointed her particular model doesn’t have a shut-off valve at the top of its head. We could have saved ourselves years of eye rolls if they had added that one-minute detail.

Pic: ROGER WONG/ Images

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