Category Archives: Legal News

SEC warns celebs about legal dangers of bitcoin endorsements

Celebs endorsing ICOs must now disclose if their social media posts are paid promotions.

When celebrities endorse things on social media, a lot of people tend to take their word for it. Now that some of them have also begun endorsing a controversial means of crowdfunding called “initial coin offering” or ICO, which was recently banned in China and South Korea, the US Securities and Exchange Commission has had to step in with a warning. Since ICOs are an unregulated means to raise money using cryptocurrencies, people could use them to sell products that don’t exist or to entice investors to sink their money into projects that will never materialize. That’s why SEC has decided to be on the lookout for celebrity ICO endorsements to protect potential investors.

The agency’s warning says:

“Any celebrity or other individual who promotes a virtual token or coin that is a security must disclose the nature, scope, and amount of compensation received in exchange for the promotion. A failure to disclose this information is a violation of the anti-touting provisions of the federal securities laws. Persons making these endorsements may also be liable for potential violations of the anti-fraud provisions of the federal securities laws, for participating in an unregistered offer and sale of securities, and for acting as unregistered brokers.”

SEC’s warning comes after The New York Times published a piece on celebrities like Floyd Mayweather and Paris Hilton endorsing various ICOs. The famous boxer help a Miami-based ICO called Centra Tech raise $30 million. According to the publication, Centra Tech’s founders created a chief executive that doesn’t exist. In addition, despite promising a Visa or a Mastercard debit card to its backers that will supposedly allow them to spend their Centra coins anywhere, the company reportedly doesn’t have any kind of deal or partnership with either credit card company.

Full Read – https://www.engadget.com/2017/11/02/sec-bitcoin-endorsements-warning/

Will Smith Slips Tyrese Gibson ‘$5m To Help With Legal Costs’

Tyrese has had his fair amount of problems of late, not least of all an ongoing legal battle with his ex-wife, Norma Gibson.

But after posting a confessional video last week where he hinted that he needed a little help from his celebrity friends, it appears that Tyrese’s luck may have come back in.

In an Instagram post yesterday, Tyrese revealed that his mate Will Smith – the Fresh Prince Of Bel Air – and wife, Jada Pinkett Smith, have given Tyrese an eyewatering $5 million to help cover his court costs. That’s a casual sum to just pull out of your pocket and give to a pal. Lucky for some, eh?

“My wife kept the news away from me cause I’ve been on with lawyers all day but our family and our sister Jada-Pinkett Smith and my brother Will Smith just sent us 5 million dollars to help keep us afloat,” Tyrese wrote in a caption to a photo of him laughing with Will Smith.

“You guys asked me to get off and stay off the Internet now that my daughter’s legal fees will be paid!”

Last Wednesday, Tyrese had posted an emotional video in which he revealed his frustration about several issues related to his legal battle with Gibson.

Read Full – http://www.ladbible.com/entertainment/celebrity-will-smith-slips-tyrese-gibson-5m-to-help-with-legal-costs-20171106

Adidas executive James Gatto indicted in NCAA fraud case

Gatto was indicted for attempt and conspiracy to commit wire fraud

PORTLAND, Ore. (KOIN) — Adidas executive James Gatto was indicted by a U.S. District Court on Tuesday for attempt and conspiracy to commit wire fraud in a NCAA basketball bribing scheme, according to court documents obtained by KOIN 6 News.

Gatto, a Wilsonville resident, is expected to be in court on Thursday morning. Fellow Adidas executive Merl Code and sports agent Christian Hawkins were also named as defendants in this specific indictment.

The NCAA bribe scheme came to light in September, rocking the college basketball world. Gatto, according to the indictment, conspired with college coaches sponsored by Adidas to make payments to high school players and their families in exchange for commitments to those schools.

Gatto was one of 10 people arrested and charged in September. Gatto also had complaints filed for wire fraud and conspiracy to commit money laundering, but he’s only been indicted on attempt and conspiracy to commit wire fraud.

Read Full – http://koin.com/2017/11/08/adidas-executive-james-gatto-indicted-in-ncaa-fraud-case/

Dylann Roof Sentenced to Death, 1st to Get Death Penalty for Federal Hate Crimes

Dylann Roof, 22, has been sentenced to death for killing nine black churchgoers during a Bible study in Charleston, South Carolina.

The jury’s decision had to be unanimous to sentence Roof to death. This is the first time a death penalty verdict was rendered in a federal hate crimes case, the Justice Department said.

The jury began deliberating Roof’s fate earlier today, after Roof told the jury in a closing statement, “I still feel like I had to do it.”

The verdict comes at the end of the federal death penalty case in which he was convicted of hate crimes resulting in death, among other charges. Roof also faces a state trial in which he may again face the death penalty.

Melvin Graham, brother of slain churchgoer Cynthia Hurd, said after the sentence was read, “Today we had justice for my sister.”

But he called Roof’s sentence a “very hollow victory because my sister’s still gone. I wish that this verdict could have brought her back.”

Graham said he supported the death penalty in this case, calling Roof’s crimes “executions.” He added that Roof took nine lives in a brutal fashion with no remorse.

“It’s a hard thing to know that someone’s going to lose their life,” Graham said of Roof. “But when you look at the totality of what happened, it’s hard to say that this person deserves to live.”

Roof’s family said in a statement, “We will always love Dylann. We will struggle as long as we live to understand why he committed this horrible attack, which caused so much pain to so many good people. We wish to express the grief we feel for the victims of his crimes, and our sympathy to the many families he has hurt. We continue to pray for the Emanuel AME families and the Charleston community.”

Roof’s defense said in a statement that the “sentencing decision means that this case will not be over for a very long time. We are sorry that, despite our best efforts, the legal proceedings have shed so little light on the reasons for this tragedy.”

The defense added that they express sympathy “to all of the families who were so grievously hurt by Dylann Roof’s actions.”

Attorney General Loretta Lynch said in a statement, “Roof sought out and opened fire on African-American parishioners engaged in worship. … He did so because of their race. And he did so to interfere with their peaceful exercise of religion. The victims in the case led lives as compassionate civic and religious leaders; devoted public servants and teachers; and beloved family members and friends.

“No verdict can bring back the nine we lost that day at Mother Emanuel,” Lynch continued. “And no verdict can heal the wounds of the five church members who survived the attack or the souls of those who lost loved ones to Roof’s callous hand. But we hope that the completion of the prosecution provides the people of Charleston — and the people of our nation — with a measure of closure.”

Graham told reporters after the sentence was read, “I don’t know how you move forward. … Cynthia’s not here. A piece of our family’s gone. … A piece of each one of us died.”

“I lost a friend and a confidante,” he continued. “How do I move forward without a part of my body? … I think what I’m going to try to do is keep my sister’s name, her legacy alive as best I can.”

Roof told the jury earlier today in his closing argument, according to ABC affiliate WCIV, “I think that it’s safe to say that no one in their right mind wants to go into a church and kill people.”

He added, “In my confession to the FBI, I told them that I had to do it.

“But obviously that’s not really true. I didn’t have to do it, and no one made me do it,” Roof said, according to WCIV. “What I meant when I said that was I felt like I had to do it, and I still feel like I had to do it.”

 

Full read  – http://abcnews.go.com/US/charleston-church-shooter-dylann-roof-sentenced-death/story?id=44674575

Arab ‘mafia’ infiltrates German police, state services – German police union official

Powerful Arab criminal clans are actively trying to plant their members into Berlin’s police and other state services, a local German Police Union head has claimed. He went on to say the mafia gangs are seeking to control police actions.

Large criminal networks of migrant descent are seeking to provide some of their members access to the inner workings of state services, Bodo Pfalzgraf, the head of the Berlin branch of the German Police Union, told the German broadcaster ZDF on Wednesday. “The truth should be revealed,” he said.

“There are clear indications that big Arab clans have a [infiltration] strategy and try to keep certain family members away from criminal activities so that they could later infiltrate state services,” Pfalzgraf explained as he appeared on ZDF’s ‘Morgen Magazin’ program. The migrant mafia has “a vital interest in first-hand knowledge of how the state works, how the police operate and when searches [and raids] are conducted,” he said.

Read Full – https://www.rt.com/news/409276-arab-mafia-german-police/