SEC Investigates Lindsay Lohan, Justin Sun for Violating Regulations

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Justin Sun was sued by SEC for violating securities regulations and promoting unregistered securities.
Eight public figures, including Lohan and Soulja Boy, were accused of illegally promoting tokens without disclosure.
Sun and his companies allegedly used “bounty programs” and conducted wash trades to manipulate Tronix trading volume.

Justin Sun, a cryptocurrency tycoon, was reportedly sued by the U.S. Securities and Exchange Commission for allegedly violating securities regulations. Additionally, the SEC accused eight public figures, including Lindsay Lohan and the musician known as Soulja Boy, of illegally promoting tokens without disclosing compensation.

The SEC specifically claimed that Lohan and Soulja Boy promoted Tronix and/or BitTorrent tokens without disclosing any compensation. The majority of the celebrities agreed to pay more than $400,000 to settle the allegations without admitting guilt or denying the SEC’s findings, according to a statement from the agency. However, the two individuals who did not agree to pay were Soulja Boy and singer-songwriter Austin Mahone.

On Wednesday, a lawsuit was filed in federal court in New York, claiming that J…

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