SEC Charges Justin Sun, TRON & BitTorrent Companies With Fraud
Justin Sun, crypto entrepreneur and owner of the company formerly known as BitTorrent Inc., has been charged by the SEC for the unregistered sale of TRX and BTT securities and market manipulation. Three of Sun’s wholly owned companies, including uTorrent owner Rainberry Inc. have also been charged with fraud along with Lindsay Lohan, Jake Paul, Ne-Yo and porn actress Kendra Lust.
After reporting on all things BitTorrent-related for the 13 years leading up to May 2018, TorrentFreak spotted something out of the ordinary.
BitTorrent Inc., the company founded by BitTorrent inventor Bram Cohen, and the owner of uTorrent, the world’s most recognized torrent client, suddenly had a new name. When asked about the change, Rainberry Inc. said it was a “corporate decision” not unlike the Alphabet/Google exercise.
Less than two weeks later, we were able to reveal that TRON founder Justin Sun was planning to buy BitTorrent Inc. Less than a month after that, Sun closed the deal with a reported offer of $140 million.
The rest of this article can be read on TorrentFreak.com