Justin Sun’s case against Chongqing Business Media Group dates back to March 11, 2022, when material about the Tron founder was published on eastmoney.com. The article alleged that Justin Sun had “repeatedly engaged in insider trading,” “fled abroad to circumvent the ICO ban,” “engaged in fraud and money laundering,” and was “under investigation by the U.S. tax authorities and the FBI.”
The businessman’s defamation lawsuit filed with the People’s Court of China stated that the publication of the article had caused serious damage not only to the professional reputation of the creator, but also to the entire TRON ecosystem. Since the article quickly went viral, it was reprinted by some international media outlets.
In its final verdict, the People’s Court of China ruled that all allegations of Sun’s involvement in insider trading, fraud, money laundering or any other wrongdoing were without any factual basis. The management of Chongqing Business Media Group admitted its guilt and issued an official apology.
In April, the US Securities and Exchange Commission (SEC) filed a criminal complaint in the case against the Tron founder, alleging that between 2017 and 2019, the businessman was actively involved in a fraudulent trading scheme of the crypto exchange Bittrex and the sale of unregistered securities in the United States from named after the Tron Foundation and BitTorrent Foundation.
Source: Bits
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