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NewsFebruary 12, 2023·1 min read
Steven Seagal Crypto Scam: Promoter Jailed for 5 Years
John DeMarr, a private detective-turned-cryptocurrency promoter, has been sentenced to five years in prison for his role in an $11 million crypto scam. DeMarr used celebrity endorsements, including some featuring Steven Seagal, to promote his cryptocurrency company Bitcoiin2Gen (B2Gen) and crypto-trading platform, Start Options.
Steven Seagal was promised $250,000 cash and $750,000 of B2Gen tokens for his endorsement, but ended up paying a $314,000 settlement to the Securities and Exchange Commission (SEC) for not disclosing his role was paid.
DeMarr was ordered to pay $3,513,305.41 in forfeiture.
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