Jake Paul, Akon, Lindsay Lohan, Ne-Yo, charged in crypto scam

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The US Securities and Exchange Commission has charged Justin Sun and three of his companies, Tron Foundation Limited, BitTorrent Foundation Limited, and Rainberry Inc., with making unregistered offers and sales of crypto asset securities.

Tronix (TRX) and BitTorrent are two examples (BTT). Sun and his companies were also charged with “fraudulently manipulating the secondary market for TRX through extensive wash trading, which involves the simultaneous or near-simultaneous purchase and sale of a security to make it appear actively traded without an actual change in beneficial ownership, and orchestrating a scheme to pay celebrities to tout TRX and BTT without disclosing their compensation,” according to a statement released by the US Securities and Exchange Commission.

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Jake Paul, Akon, Lindsay Lohan, Ne-Yo, charged in crypto scam

The US Securities and Exchange Commission has charged Justin Sun and three of his companies, Tron Foundation Limited, BitTorrent Foundation Limited, and Rainberry Inc., with making unregistered offers and sales of crypto asset securities.

Tronix (TRX) and BitTorrent are two examples (BTT). Sun and his companies were also charged with “fraudulently manipulating the secondary market for TRX through extensive wash trading, which involves the simultaneous or near-simultaneous purchase and sale of a security to make it appear actively traded without an actual change in beneficial ownership, and orchestrating a scheme to pay celebrities to tout TRX and BTT without disclosing their compensation,” according to a statement released by the US Securities and Exchange Commission.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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