NBA great Pierce fined US$1.4 million over ‘misleading’ crypto promotion

FORMER Boston Celtics star Paul Pierce was ordered to pay more than US$1.4 million (RM6.2 million) in penalties after being charged with making false and misleading statements about crypto securities he was paid to promote, US regulators said yesterday.

The Securities and Exchange Commission (SEC) said in a statement Pierce had been charged with touting EthereumMax (EMAX) tokens without disclosing that he had been paid to do so.