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Music producer DJ Khaled and boxer Floyd Mayweather Jr. were charged by the Securities and Exchange Commission with promoting investments in initial cryptocurrency coin offerings without revealing that they'd been paid.The SEC has said that cryptocurrency coins sold in initial coin offerings (ICOs) may be considered securities and subject to federal securities laws.Both Khaled and Mayweather settled with the SEC and agreed not to promote any securities, even digital ones, for two years and three years, respectively, the SEC said Thursday. They also agreed to give the money they'd received to the SEC and pay penalties and interest.Mayweather failed to disclose that he'd received 0,000 from three different ICO issuers, including 0,000 from Centra Tech. Khaled failed to disclose a payment of ,000 from the same company.Centra has separately been charged by the SEC, which alleged that its ICO was fraudulent.Centra could not immediately be reached for comment.Both Mayweather and Khaled promoted Centra's ICO on their social media accounts. Khaled called it a "game changer" while Mayweather encouraged his followers to get in on the ICO, saying he'd taken part.Mayweather also commented on another ICO, saying he was going to make a lot of money."You can call me Floyd Crypto Mayweather from now on," he tweeted.The SEC, which has made it clear that ICOs can be fraudulent, encourages would-be investors to be wary of those ICOs that are endorsed by celebrities."With no disclosure about the payments, Mayweather and Khaled's ICO promotions may have appeared to be unbiased, rather than paid endorsements," said SEC Enforcement Division co-director Stephanie Avakian."Social media influencers are often paid promoters, not investment professionals, and the securities they're touting, regardless of whether they are issued using traditional certificates or on the blockchain, could be frauds," said Steven Peikin, another SEC enforcement division co-director.This is the first time the SEC has brought charges against individuals for promoting ICOs and the investigation is ongoing. 2128

Musician T.I. was named in an investigation by the Securities and Exchange Commission on Friday in a fraudulent initial coin offering scheme.The SEC said T.I. will not be criminally charged, but settled on a ,000 fine and he has agreed to not participate in offerings or sales of digital-asset securities for at least five years.Film producer Ryan Felton is facing criminal charges, allegedly promised to build a digital streaming platform for FLiK, and a digital-asset trading platform for CoinSpark. Instead, Felton allegedly misappropriated the funds raised in the initial coin offerings, the SEC said.Felton is facing charges of violating registration, anti-fraud, and anti-manipulation provisions of the federal securities laws.T.I. was allegedly involved in promoting Felton’s scheme. The SEC said that T.I., and his social media manager William Sparks, Jr., offered FLiK tokens on T.I.’s social media accounts.“The federal securities laws provide the same protections to investors in digital asset securities as they do to investors in more traditional forms of securities,” said Carolyn M. Welshhans, Associate Director in the Division of Enforcement. “As alleged in the SEC’s complaint, Felton victimized investors through material misrepresentations, misappropriation of their funds, and manipulative trading.”Felton was also accused of manipulative trading to inflate the price of SPARK tokens.The SEC said that Felton made an addition .2 million in profits, and used money he allegedly misappropriated to buy a Ferrari, a million-dollar home, diamond jewelry, and other luxury goods. 1608

NATIONAL CITY, Calif. (KGTV) — Police asked the National City motorists to avoid a stretch of road after a water main break Saturday.National City Police advised motorists to avoid the westbound lanes in the 1300 block of East 8th St., between M and N Avenues, following the severed main. The break on the westbound side of East 8th St. will require a detour throughout Saturday. Sweetwater Authority is working to stabilize and clear the break.The eastbound lanes of East 8th St. are not affected. 506

MONROE COUNTY, Penn. -- Punxsutawney Phil is a wanted mammal, and Pennsylvania law enforcement officials allege his crime is "deception."On Groundhog Day, Phil saw his shadow, declaring to the world there’d be six more weeks of winter.The Monroe County Sheriff’s Office issue is simple, according to the wanted poster posted on Facebook: It's been more than six weeks since his prediction, and snow's still falling.Phil said winter would be over by March 16, but by the second day of spring, the county was in the middle of “yet another snowstorm.”For those on the lookout, Phil is a 22-inch-long male, weighing around 20 pounds with brown hair and brown eyes. Phil was born on May 10, 2010.No word on whether he has any scars, marks or tattoos.  764

NATIONAL CITY, Calif. (KGTV) – A car crashed into a power pole in National City late Monday evening, killing a teen driver and leaving his female passenger trapped in the wreckage.The crash was reported at around 11 p.m. in the 2800 block of E 16th Street, according to National City police.Police believe the driver was traveling at a high rate of speed when he lost control of his Cadillac sedan and veered into a pole.The driver died at the scene, and it took responding emergency crews over an hour to pull the unconscious passenger from the wreckage. She was transported to the hospital with severe head trauma and other life-threatening injuries.The driver and passenger are believed to be in their late teens.Several people who said they were family members of the victims arrived at the scene to talk to police.No other injuries were reported and no other vehicles were involved. 895