SEC sues Tron founder Justin Sun, Lindsay Lohan, other celebrities over crypto sales

FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly//File Photo

NEW YORK (Reuters) -The U.S. Securities and Exchange Commission on Wednesday charged Chinese cryptocurrency entrepreneur Justin Sun with fraud, and accused eight celebrities including actress Lindsay Lohan and rapper Soulja Boy with illegally promoting his crypto assets.

Sun and his companies Tron Foundation, BitTorrent Foundation and Rainberry were accused of having since August 2017 schemed to distribute billions of crypto assets known as Tronix (TRX) and BitTorrent (BTT) and artificially inflated trading volume.