Ashton Kutcher, Mila Kunis’ animated series ‘Stoner Cats’ fined $1M by the SEC

nypost.com:

blunt with their consequences.Ashton Kutcher and his wife Mila Kunis reportedly owe the Securities and Exchange Commission $1 million in fines after the SEC found that the embattled couple had been conducting unregistered offers of crypto asset securities.

The government agency also claimed in a press release that Kutcher, 45, and Kunis, 40, were misleading investors for their new series “Stoner Cats.”According to the release, the project sold more than 10,000 NFTs for a profit of $8 million in order to finance the animated series, but by doing so, the SEC claimed that they had violated the Securities Act of 1933 “by offering and selling these crypto asset securities to the public in an unregistered offering that was not exempt from registration.”“Stoner Cats,” which stars Kunis, Kutcher, Chris Rock and Jane Fonda and several other high-profile celebrities, tells the story of a group of cats as they attempt to take care of their marijuana-smoking owner who suffers from Alzheimer’s disease/Reps for both Kunis and Kutcher were contacted by The Post for comment.

The series’ creative team allegedly claimed that one of the highlights of owning one of its NFTs was that a person could later sell it at a much higher value in the future.

According to the SEC, this boasting led investors “to expect profits because a successful web series could cause the resale value of the Stoner Cats NFTs in the secondary market to rise.” The agency also found that the group had created the token to give itself a 2.5 percent royalty each time that the NFT was purchased online.