$12 Million Judgment Against Celebrity Endorser for Role in Cyrptocurrency ICO
You are a celebrity or a social media influencer and are asked by a company raising money from investors to post endorsements on Instagram. The company’s White Paper identifies you as a “team member,” and the company refers to you as a member of their advisory board. The company goes on to raise over $12 million from investors, but later goes bankrupt. Are you responsible to return the investors’ money?
Unfortunately for rapper Jayceon Terrell Taylor (the Game) the answer is, yes, according to a lawsuit filed by investors in a company he endorsed.