Lindsey Lohan and many other artists suspected by the SEC for Tron / Tronix
The Securities and Exchange Commission filed fraud and unregulated securities bidding charges Wednesday against cryptocurrency founder Tron and Grenadian diplomat Justin Sun , as well as separate charges against celebrities who have funded his TRON and BitTorrent crypto businesses, including Soulja Boy, Lindsay Lohan and Jake Paul.
SEC Chairman Gary Gensler said Sun convinced investors to buy TRX and BTT " by orchestrating a promotional campaign in which he and his celebrity promoters covered up the fact that celebrities were being paid for their tweets ." Now these celebrities have remained implicated in the investigation.
According to the allegations, Sun committed fraud by manipulating the trading of both tokens, creating the appearance of legitimate trading volume when none existed. Meanwhile, the unregistered "offer and sale" charges are similar to those filed against Do Kwon's Genesis, Gemini and Terraform Labs, CNBC reports.
“ This case once again demonstrates the elevated risk investors face when cryptocurrency securities are offered and sold without proper disclosure ,” Gensler continued.
The well-known lenders promoted TRX and BTT on social media and recruited others to join Tron-affiliated Discord and Telegram channels, in what SEC enforcement chief Gurbir Grewal called part of an “ old handbook for deceive and harm investors”.
At the same time, Sun paid celebrities with millions of social media followers to advertise unregistered deals, specifically instructing them not to disclose their compensation. It is precisely this conduct that federal securities laws were designed to protect against, regardless of the labels used by Sun and others ,” Grewal continued.
The eight celebrities and influencers were (via CNBC)
actress Lindsay Lohan
social media personality and boxer Jake Paul
musician DeAndre Cortez Way, also known as Soulja Boy
musician Austin Mahone
adult actress Michele Mason, known as Kendra Lust
musician Miles Parks McCollum, known as Lil Yachty
musician Shaffer Smith, also known as Ne-Yo
musician Aliaune Thiam, also known as Akon
All except Soulja Boy and Mahone agreed to a $400,000 collective payment in relief, interest and penalties to settle the charges, which does not constitute an admission or denial of guilt.
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The article Lindsey Lohan and many other artists suspected by the SEC for Tron/Tronix comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/lindsey-lohan-e-tanti-altri-artisti-indiziati-dalla-sec-per-tron-tronix/ on Thu, 23 Mar 2023 14:33:57 +0000.