The Securities and Exchange Commission has ended its long-running fraud and securities violation lawsuit against Justin Sun after one of his companies agreed to pay a $10 million fine.
The US Securities and Exchange Commission has ended its lawsuit against crypto entrepreneur Justin Sun with a $10 million settlement, wrapping up a three-year legal battle over alleged fraud and securities laws violations.
The SEC said in a letter to a Manhattan federal court on Thursday that Rainberry, one of Sun’s companies, would pay a $10 million fine, and claims against Sun and his companies, the Tron Foundation and BitTorrent Foundation would be dropped.
Sun and his companies did not admit or deny the SEC’s allegations, the agency said in the letter.
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