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SEC Charges Eight Celebrities due to undisclosed TRX, Tron paid advertising
3/22/2023
The US Securities and Exchange Commission (SEC) has filed charges against Justin Sun, the founder of cryptocurrency Tron, and eight celebrity backers of the project, including Lindsay Lohan, Jake Paul, and Soulja Boy. Sun is accused of manipulating the trading of Tronix and BitTorrent tokens, creating the appearance of active trading when it did not exist, and of inducing investors to purchase the tokens by orchestrating a promotional campaign in which he and his celebrity promoters hid the fact that they were paid to tweet. All except for Soulja Boy and musician Austin Mahone agreed to pay a collective $400,000 to settle the charges.
The full list of celebrities are:
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actress Lindsay Lohan
social-media personality 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
https://unusualwhales.com/news/sec-charges-eight-celebrities-due-to-undisclosed-trx-tron-paid-advertising