- Justin Sun, the founder of the Tron network and part owner of the Huobi cryptocurrency exchange, has been issued a summons by a U.S. district court and now has 21 days to respond regarding a lawsuit filed by the Securities and Exchange Commission .
According to a report from The Straits Times, Sun has now been issued a summons related to these charges. The summons was addressed to two locations: 8 Lady Hill Road, a Good Class Bungalow in the Tanglin area, as well as an office space in 9 Temasek Boulevard, Suntec Tower Two. Allegations include fraudulently manipulating the secondary market for TRX through extensive wash trading, and orchestrating a scheme to pay celebrities to tout TRX and BTT.
The story garnered extra attention when it was first announced as eight celebrities, including Lindsay Lohan, Jake Paul, Soulja Boy, Austin Mahone, Kendra Lust, Lil Yachty, Ne-Yo and Akon, were also charged in the marketing scheme, which involved “illegally touting TRX and/or BTT without disclosing that they were compensated for doing so and the details of their compensation.”