DJ Khaled and Floyd Mayweather fined for failing to disclose they were paid to promote cryptocurrency companies

Image Group LA/ABCDJ Khaled and Floyd Mayweather have been fined by the Securities and Exchange Commission for failing to disclose that they were paid to promote investments in companies involved in cryptocurrency.

Mayweather agreed to pay his $300,000 profit, plus a $300,000 penalty. Khaled agree to pay his $50,000 profit, plus a $100,000 penalty.  The boxing champ was ordered not to promote any securities, digital or otherwise, for three years, and the music producer has a similar ban for two years.

The SEC says Mayweather did not reveal he was paid to promote three different companies, including Centra Tech Inc. which also paid Khaled for promotion.