Lindsay Lohan charged by US government over cryptocurrrency scheme
"This case demonstrates again the high risk investors face when crypto asset securities are offered and sold without proper disclosure," shared SEC chairman Gary Gensler in a statement.
"[Crypto asset entrepreneur Justin] Sun further induced investors to purchase TRX and BTT by orchestrating a promotional campaign in which he and his celebrity promoters hid the fact that the celebrities were paid for their tweets." Additionally, the SEC's division of enforcement director Gurbir S Grewal said:"While we're neutral about the technologies at issue, we're anything but neutral when it comes to investor protection. As alleged in the complaint, Sun and others used an age-old playbook to mislead and harm investors by first offering securities without complying with registration and disclosure requirements and then manipulating the market for those very securities.
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