Reportedly Justin Sun has been involved in many types of illegal & unfair works since the beginning of his journey in the crypto Industry.
Justin Sun is the founder of the Tron network and also the owner of multiple crypto projects like Sun, BTT, JST, Poloniex exchange etc. Right now he is no longer in the crypto Industry directly, because he is currently the brand ambassador of the Grenada government to the WTO. Before leaving the crypto industry he said that the Tron network is fully decentralized, so it will not occur with any negative result.
On 9 March, The Verge published a report and noted that there are many active allegations against Justin Sun, and the majority of the allegations already been proved because of the existence of many official documents and details.
The article was covered by Christopher Harland-Dunaway. According to him, Justin was involved in Tax evasions and crypto market manipulation. After the ICO of Tron, he was forced to leave China.
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Journalists claimed that all these allegations have been proved by the few former and current employees against the Tron founder.
Market price manipulation
The report also noted that the team of Tron had always bought huge amounts of tokens before the positive news announcement by Justin related to the Tron project.
So as per the rule of stock market price manipulation, crypto market price manipulation is also illegal activity.
The report also claimed that a former employee told that Justin Sun was trying to launch a BTT coin with the concept of a use case without any liability. For this, he asked the chief compliance officer for BitTorrent (BTT) David Labhart to create a document to show that BTT was a utility token and not security.
David refused to do the same but still, Justin launched the coin by giving Airdrop of BTT token.
The article also included some details of the Bank account of Justin Sun and also the citizenship of Justin linked to different countries to escape from such prosecution.
In response to such allegations, Justin wrote on Twitter that all allegations are wrong and false.
Justin tried to explain every fact against the allegations to explain how he did every work under rules and systems.
(2/5) It is a complete falsehood on the part of the Verge and the reporter and a blatant defamation about the Poloniex operation. Polo enjoys robust risk management and strong financial resources that have provided top of class services to our customers throughout its history.
— H.E. Justin Sun
(@justinsuntron) March 9, 2022
Read also: Ukraine close to $100M crypto donation
Tron founder accused of insider trading and manipulation: Verge
https://bitcoinik.com/tron-founder-accused-of-insider-trading-and-manipulation-verge/feed/
https://bitcoinik.com/tron-founder-accused-of-insider-trading-and-manipulation-verge/feed/
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