SEC Says Justin Sun ‘Traveled Extensively’ to US, Sue
The U.S. Securities and Exchange Commission has dismissed charges against Tron founder Justin Sun, saying he “traveled extensively” across the country — so he gave up.
The regulator argued that it has “personal jurisdiction” over Sun, Tron and two other businesses it controls because they “intentionally took actions in the United States,” he wrote in an amended complaint filed April 17 in Manhattan federal court.
The Sun Between 2017 and 2019, she spent more than 380 days in the United States on business trips to New York City, Boston and San Francisco, the SEC said.
The trips occurred on behalf of the Tron Foundation, BitTorne Foundation and Rainberry — all named in the suit as Sun's “alter ego” companies.
The SEC reiterated its accusations from the original lawsuit filed last month that Sun and its businesses sold unregistered securities in Tron (TRX) and BitTorrent (BTT) tokens and that Sun engaged in “manipulative laundering.”
The SEC alleged that TRX and BTT were promoted, offered and sold “to consumers and investors in the United States.”
He added, “Sun has traveled extensively to the United States promoting, presenting and selling TrX and BTT.
He also said his alleged TRX laundering transactions took place on Seattle-based crypto exchange Bittrex.
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In late March, Sun, a Grenadian citizen born in China, asked the SEC to dismiss the charges, saying they applied US securities laws “primarily to foreign conduct” and had no jurisdiction over him or the Singapore-based Tron Foundation.
He said that the TRX and BTT tokens were “completely sold overseas”, and that the sales took steps to avoid the US market. He added that the SEC did not allege that the tokens were “originally offered or sold to any US residents.”
Attorneys for the Sun did not immediately respond to a request for comment.
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