The United States Securities and Exchange Commission (SEC) has filed new court documents in its ongoing lawsuit against Justin Sun, the founder of the TRON blockchain, and the companies allegedly owned and controlled by him.
The SEC’s latest filing provides additional information to support its earlier allegations made in March 2023. The SEC accuses Sun of orchestrating unregistered offers and sales, “manipulative trading,” and “unlawful touting of crypto asset securities.”
Justin Sun Accused Of Orchestrating ‘Manipulative Wash Trading’
According to the SEC’s filing, Justin Sun, through various companies he owns and controls, including Tron Foundation Limited, BitTorrent Foundation, and Rainberry, executed the offer and sale of two crypto assets deemed as “securities” by the US SEC called TRX, Tron’s native token and BitTorrent’s BTT.
The SEC argues that these offerings and sales should have been registered with the SEC or qualified for an exe
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