Justin Sun denies criminal charges in response to The Verge article
Justin Sun has denied “false” allegations in a report published by The Verge, which claimed the controversial entrepreneur could face a litany of criminal charges
Tron founder Justin Sun has vehemently denied multiple allegations against him published in the explosive Wednesday article by The Verge.
Sun described the article as “a blatant defamation” and threatened “legal remedies”. He also defended his Poloniex exchange, praising his “real reputation.”
Image by @justinsuntron
After the Poloniex acquisition, Sun is said to have rushed to implement a fake know-your-customer (KYC) system, which would stamp all government IDs to approve new customers at a rapid pace. A former employee joked that they could give the green light for a “photo of Daffy Duck”.
Sun was reportedly involved in insider trading with a dedicated market maker to support the value of his cryptocurrency and manipulate the market.
The article also accuses Sun of transferring 300 BTC (about $12.5 million) accidentally deposited by Poloniex customers into Tether’s Omni addresses.
According to the disclosure, Sun referred to himself as “Chairman Mao” during a meeting with BitTorrent executives.
Facing a litany of indictments
A former employee told The Verge that Sun broke so many laws that it would be “impossible” to catch up with them all.
The Verge, which claims to have seen a subpoena, says Sun faces a slew of criminal charges, including wire transfer fraud, money laundering, defrauding and aiding and abetting a crime. According to the report, the list has not yet been finalized by the grand jury.
It’s worth noting that the US has extradition treaties with more than 100 countries, making it unlikely that Sun will escape trial if authorities take steps to charge him.
The FBI is reportedly leading the investigation into the controversial entrepreneur.
An anonymous source quoted by The Verge alleges that a certain number of Sun employees may be cooperating with authorities.