Court Orders Steven Seagal to Pay Full ICO Promotion Fines

The US SEC wants to collect more than $200,000 unpaid fine from actor Steven Seagal for failing to disclose he was being paid to promote an illegal ICO.

August 30, 2021, | AtoZ Markets – Actor Steven Seagal owes the US Securities and Exchange Commission (SEC) unpaid fines stemming from a settlement related to the promotion of an illegal initial coin offering (ICO) -- and a US judge has empowered the agency to seek collection.

Seagal has paid the SEC just $75,000

William Kuntz, a federal judge for the US District Court for the Eastern District of New York, signed an order Friday allowing the SEC to collect fines, penalties, and interest from Steven Seagal.

Seagal, who now lives in Moscow after Russian President Vladimir Putin issued a presidential decree in 2016 granting the actor Russian citizenship, owes more than $200,000.

As AtoZMarkets previously reported, the famous actor settled with the agency after being accused of not disclosing payments related to his endorsement of the Bitcoiin ICO. As part of the deal, he was ordered to pay more than $300,000.

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According to Bloomberg, the movie star has paid the SEC just $75,000. The agency previously went before a court to detail its payment struggles with Seagal.

Now, the SEC "can go through Seagal’s business manager to try and collect," per Bloomberg.

Read also: SEC Fines Rapper T.I. $75k for Participating in Fraudulent ICO

The SEC has also filed charges against 3 executives of Bitcoiin2Gen of defrauding investors for $11.4 million through a B2G ICO advertised by actor Steven Seagal.

The defendants include Christian Krstic, founder of Start Options and Bitcoiin2Gen, and John DeMarr, the main promoter of these companies in the United States.

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