The SEC’s Office of Investor Education and Advocacy is warning investors not to make investment decisions based solely on celebrity endorsements.

According to the warning, it is never a good idea to make an investment decision just because someone famous says a product or service is a good investment.

Moreover, never make an investment decision based solely on a celebrity endorsement, or other information you receive through social media, investment newsletters, online advertisements, email, investment research websites, internet chat rooms, direct mail, newspapers, magazines, television, or radio.

Please find attached a link for the warnings Celebrity Endorsements and Unlawful Promotion of Initial Coin Offerings and Other Investments by Celebrities and Others