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TRX CEO Accused Of Illegal Fundraising Via TRON

 
TRX CEO Accused Of Illegal Fundraising Via TRON
Breaking News / Cryptocoins / TRON

Not long after the TRON Foundation announced that its founder and CEO, Justin Sun couldn’t make the highly anticipated charity lunch with Warren Buffett due to fallen ill with kidney stones, one Chinese business source raised a few allegations against the CEO of the decentralised project.

Sun has been accused of illegal fundraising through his TRON cryptocurrency project by The 21st Century Business Herald. It has also alleged the TRON network operated illegal gambling services that are accessible to Chinese residents and further took aim at an early startup of Sun’s dubbed Peiwo, a social network app, and accused it of involvement in the illegal pornography industry.

The media outlet has confirmed with several sources that Sun is currently residing in midland China. 

Hinting that Sun may not be able to leave the nation before the allegations are addressed, the article asked the question, “Without a clear answer to these questions raised, will Justin be able to have this $4 million meal?” 

In responding to the allegations made by The 21st Century Business Herald through his Weibo account, Sun said the following:

“The illegal fundraise accusation is wrong. Tron complied with regulators and refunded investors on Sept. 20 in 2017, immediately after the order [of a ban on initial coin offerings] from seven ministries in China... The Tron foundation is based in Singapore in compliance with local regulations and laws.… and does not involve any flow of capital, or any crypto or fiat currency onramp.”

However, when asked about his current location he did not respond. Although it is understandable as when you have 1.44 million followers of Twitter, you probably don't want to tell them all exactly where you are.

As CryptoDaily has previously reported:

“This meal is a very highly anticipated event for the crypto space as if Sun and friends can persuade Buffett to be bullish on crypto then maybe adoption will come through at a faster rate? As one of the biggest names in finance Warren will have a lot of influence on the world around him s it wouldn’t come as that much of a surprise if BTC saw some bullish action, one way or another, if he can see the upside to Bitcoin.”

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