Blockchain entrepreneur Alex Tapscott is paying a $148,000 fine and will lead ethics seminars at 3 Canadian business colleges per his settlement agreement with the Ontario Securities Commission (OSC), as per a report by the globe and Mail on May 13.

Tapscott, the corporate executive of blockchain firm NextBlock global restricted at first filed for a public settlement hearing with the OSC on May 9.

The OSC had antecedently suspect NextBlock and Tapscott of misleading investors once he collected a reported $20 million from 113 investors. The regulators alleged that Tapscott lied to investors by presenting them with a slide deck of supposed advisors who weren't actually related to the corporation.

The reputed advisors to the corporate included such well-known figures within the blockchain and cryptocurrency areas as Kathryn Haun, Vinny Lingham, VitalikButerin and Karen Gifford.

The scandal was exposed in 2017, once Forbes reached out to the said people, who later denied their involvement.

Tapscott’s lectures are going to be held over the course of the subsequent eighteen months, and can reportedly cover the identical topics regarding which he will write in a letter to be released within the week.

The Globe and Mail additionally notes that Tapscott isn't quickly prohibited from leadership during a company, as is common procedure within the agreements reached in such settlements.

NextBlock itself has paid $594,000 over the course of the settlement — $74,000 for the investigation, and $520,000 as a penalty value.

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