Austin Mahone News

The US Securities and Exchange Commission has filed civil charges against eight celebrities, alleging they illegally promoted two cryptocurrencies without disclosing that they were paid to do so.

The United States Securities and Exchange Commission (SEC) has edited its Tron lawsuit against Justin Sun and his crypto companies, Tron Foundation, the BitTorrent Foundation, and Rainberry, following his attempted dismissal of the litigation late last month, amended court docs filed on Thursday reveal.

A United States court has issued a summons to Tron founder Justin Sun’s Singapore address in connection to a Securities and Exchange Commission (SEC) civil case.

Lohan, rapper Akon and several other celebrities have agreed to pay tens of thousands of dollars to settle claims they promoted crypto investments to their millions of social media followers without disclosing they were being paid to do so. Lohan, Akon, recording artists Ne-Yo, and Lil Yachty, boxer and internet personality Jake Paul, and adult film performer Michele Mason all agreed to pay more than USD 400,000 combined in disgorgement, interest and penalties to settle the claims, the Securities and Exchange Commission said Wednesday. None admitted or denied the SEC's findings as part of the settlement. Two other celebrities named in the SEC's complaint, rapper Soulja Boy and pop singer Austin Mahone, did not reach a settlement with the SEC, the agency said. In response to a request for comment, Lohan's publicist Leslie Sloane said the actress was contacted in March 2022, was unaware of the disclosure requirement, and agreed to pay a fine to resolve the matter.

The controversial crypto entrepreneur Justin Sun is facing a lawsuit from the US Securities and Exchange Commission (SEC) over a scheme to pay celebrities to shill Tron’s TRX and BitTorrent (BTT) tokens.

Other celebrities caught up in the promotional campaign for Tronix and BitTorrent tokens include:

The United States Securities and Exchanges Commission (SEC) has taken an action against prominent crypto-entrepreneur – Justin Sun – the founder of Tron (TRX). The commission has also charged eight other celebrities for promoting TRX and BitTorrent token – BTT. The list includes Hollywood star – Lindsay Lohan, influencer – Jake Paul, Austin Mahone, Michele Mason, Aliaune Thiam aka Akon, Shaffer Smith, DeAndre Cortez Way, and Miles Parks McCollum.

The United States Securities and Exchange Commission, or SEC, has called for a jury trial against Tron founder Justin Sun for the “orchestration of the unregistered offer and sale, manipulative trading, and unlawful touting of crypto asset securities.”