SEC Takes Action Against Film Producer, Rapper, and Others for Two Fraudulent ICOs

SEC is going after a film producer, a rapper, and a few others for their involvement in two shady ICOs. So, I guess there's some sort of justice happening, but honestly, $75K? Not sure if that’s really that much. The bigger picture is that the SEC wants to show they’re on top of things and that they won’t let anyone slide, no matter who you are.

The question is why SEC took so long to file charges against these famous personalities? I'm guessing is that amount of money involved, and now that we are in the defi hype, I wouldn't be surprised to find a new wave of personalities endorsing similar to what ICO did in 2017, getting help from friends. But the end result will be the same, scamming unsuspecting victims. $2.2 million and a measly $75k civil monetary penalty? Doesn't sound right.

From how I understand this case the 75,000$ penalty is only for TI the rapper since he mislead people in his promotion as well as being involved with the FLIK tokens, the ones who are getting a higher penalty will be Ryan Felton the producer since he did the fraud itself. If you are looking for a much "worser" penalty like them going to prison I don't think you will see that happening since this is counted as a white collar crime and monetary penalties are more common in these kinds of cases.

The things some people can do just to make money it's not funny and I never the celebrity in the music industry will also join the group of person that would also scam innocent and ordinary people off the hard earning but it hurt that despite all the warning giving to crypto investors not to believe in advert done by an influential person without doing proper research some investors still dont listen. However, this kind of situation should be enough to make people understand that the project recommended by influential person or celebrity shouldnt be completely trusted with in depth research.

It is good that there is an organization like the SEC which work on the scam and fraudulent ICO/IEO even they sometimes did something that affected crypto user. I have a question cause the investors of the ICO have lost their money and I want to know if the SEC will return the invested funds back to the investors? If yes, how?