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(NEW YORK POST) – Kim Kardashian has landed in hot water with the feds over an Instagram post promoting a cryptocurrency asset that has been blasted by critics as an alleged “pump and dump” scheme.
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The Securities and Exchange Commission announced on Monday that it has charged the reality television star and social media influencer “for touting on social media a crypto asset security … without disclosing the payment she received for the promotion.”
The SEC said Kim K “agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate” with the ongoing investigation.