Popular crypto influencer and book author, Ian Belina, has been charged by the U.S. Securities and Exchange Commission (SEC) for failing to register the initial offering and sale of SPRK tokens. In addition, Belina kept the sum he was paid to promote Sparkster’s SRPK ICO a secret from his followers.
The SRPK ICO took place in 2018 and made $30 million. In the meantime, Sparkster has gone defunct. Regardless, the company agreed to settle with the SEC for $35 million, which will be directed toward the SRPK ICO investors.
As for Belina, he claims the charge is unfounded. He has decided against settling, possibly in an effort to preserve the reputation he enjoys with his 140,000 Twitter followers and 110,000 YouTube subscribers.