US court orders actor Steven Seagal to pay full crypto fine

The Securities and Exchange Commission won a judgement against Steven Seagal to pay his fine over an illegal promotion of initial coin offering (ICO) even though the actor relocated in Moscow.

US District Judge William Kuntz ordered the Hollywood actor and producer to pay his penalty in full, allowing the SEC to collect the remaining fines.

The US regulator settled the case with Seagal with a $330,000 monetary penalty in February 2020. SEC found that the 69-year-old actor failed to disclose $250,000 in cash and $750,000 worth of B2G tokens he was promised to promote the digital assets back in 2018.

US court orders actor Steven Seagal to pay full crypto fine

Seagal agreed to pay $157,000 in disgorgement and a $157,000 penalty, without admitting or denying wrongdoing.

However, the motion picture celebrity made one payment of $75,000 and never paid the rest, a letter from Maureen Peyton King, a lawyer for the SEC, states.

According to the US regulator, Seagal has not responded to the SEC repeated attempts to collect the full amount.

In 2016, the actor who now lives in Moscow, received a Russian citizenship through a presidential decree, issued by Russian President Vladimir Putin.

Bloomberg recently reported that Seagal did not appear in court, neither did his former lawyer or his manager, even though Kuntz had ordered it.

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