Paul Pierce has gotten used to star in controversy, as the Boston Celtics icon has been a synonym for this word. The Truth has been very entertaining during and after his NBA career, but things are getting a little out of control recently.
After his tumultuous exit from ESPN after going live on Instagram wilding with a bunch of strippers, smoking and playing cards, Pierce has embraced this and doesn’t hesitate to show his real personality no matter who gets offended by that. Now on Showtime, he’s doing big things with former teammate Kevin Garnett, having interesting discussions on NBA-related matters.
Still, this new chapter in Pierce’s life hasn’t been free from controversy, and the 2008 NBA champion is once again starring in a controversial situation. This time, he’s agreed to pay a big number to stay safe from issues.
Paul Pierce Has Agreed To Pay $1.4 Million For Wrongly Promoting Crypto On His Social Media
TMZ Sports reports that Pierce has been accused of improperly promoting crypto on his social media page. The Securities and Exchange Commission came to an agreement with the former player, who paid $1.4 million after wrongly promoting EMAX tokens on his Twitter page.
This comes after Pierce didn’t disclose the payment he received for this promo and also gave deceiving info about the product he was advertising.
“This case is yet another reminder to celebrities: The law requires you to disclose to the public from whom and how much you are getting paid to promote investment in securities, and you can’t lie to investors when you tout a security,” SEC Chair Gary Gensler said in a statement.
“When celebrities endorse investment opportunities, including crypto asset securities, investors should be careful to research if the investments are right for them, and they should know why celebrities are making those endorsements.”
This is a big hit for Pierce’s bank account, and even though the player might be in a good position financially speaking, it’s not easy to just pay $1.4 million for making a mistake. The Truth hasn’t made any comments on this yet, so we’ll have to wait to see if he’ll address this issue.
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