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NEW YORK, NEW YORK - OCTOBER 24: Kim Kardashian attends KKW Beauty launch at ULTA Beauty on October 24, 2019 in New York City. (Photo by Dimitrios Kambouris/Getty Images for ULTA Beauty / KKW Beauty)

Kim Kardashian is gonna have to use that lawyer background she has to help bail herself out! She was busted by the feds because of an Instagram post she made that promoted a cryptocurrency asset that is known as what they call a “Pump and dump” scam.

Kim was alerted by the Securities and Exchange Commission on Monday that it will charge her for touting on social media a crypto asset security and not reporting the payments she received for the promotion.

The good think about being Kim Kardashian, you have pretty much an infinite amount of money, so you know what she’s was gonna do? Yup, you guessed it, she agreed to settle all the charges and pay $1.26 million for the penalties, disgorgement, and interest. Kim has also agreed to cooperate while the site is investigated. With all this, she also agreed to NEVER promote any type of crypto asset securities for three years. But I think it’s safe to say she won’t ever again.

This is the issues you will deal with when you have a boat load of money, you will invest or promote money making sites, then when busted, use your money to get you out. And to avoid any of her other businesses suffering from this, she wanted to make sure she just dealt with it immediately and moved on.

We have more on this story and more, all in today’s Entertainment News!





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