Boxing superstar Floyd Mayweather and rap producer DJ Khaled face a legal battle for serving as celebrity endorsers to an initial coin offering (ICO) accused of fraud. The founders of the allegedly fraudulent ICO were arrested by American criminal authorities back in April.
ICO Promotion Blowback
Celebrity gossip tabloid TMZ reports that Floyd Mayweather and DJ Khaled have been slapped with a lawsuit from investors who accuse them of participating in a multi-million dollar scam. The lawsuit revolves around the Centra Tech ICO that raised more than $ 32 million from thousands of investors last year, supposedly to build a suite of financial products including a cryptocurrency-backed debit card supported by Visa and Mastercard.