Paul Pierce investigated for fraud

Trouble with justice for Paul Pierce and other U.S. celebrities, including Floyd Mayweather and Kim Kardashian.

The accusations of fraud and insider trading arise from the stars’ collaborative relationship with the cryptocurrency EMAX’s EthereumMax. Pierce and the other defendants publicized the virtual currency on their social channels in 2021 but the former Celtics legend also allegedly attempted to make illicit profits from it. According to the indictment, Pierce was aware of the timing of collaborations with various influencers that would increase or decrease the value of the cryptocurrency at certain times. Based on this information he allegedly bought and resold, precisely profiting through an unfair and prohibited practice. This was reported by several U.S. media outlets, including. ClutchPoints.

A few months ago Pierce had received a fine of nearly $250,000, now, however, a criminal investigation has been launched by a California court, following the complaint of some users who lost their savings by buying EthereumMax shortly before it lost value.

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