Court documents reveal that Justin Sun, Tron’s founder, has been sent a summons from the U.S. Securities and Exchange Commission (SEC) regarding the civil complaint filed against him last month. Youtuber Austin Mahone and rapper Soulja Boy, whose real name is DeAndre Cortez Way, have also been summoned. The SEC accuses Sun of orchestrating an unregistered sale and offer of a crypto asset security and engaging in manipulative trading schemes.
A court summons has been issued to Sun, Mahone, and Soulja Boy, giving them 21 days to contact SEC attorney Adam Gottlieb. This summons is related to a recent lawsuit filed against the trio due to the SEC’s civil case alleging that Sun unlawfully offered and sold tron (TRX) and bittorrent token (BTT).
The SEC claims that Sun organized the offer and sale of TRX and BTT while participating in manipulative wash trading of TRX to create a false impression of legitimate investor interest. The securities regulator contends that Sun conducted these schemes through various organizations he controls, including Rainberry, Bittorrent Foundation Ltd., and the Tron Foundation.
(by Jamie Redman)
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