Mystery: The crypto-entrepreneur who bid $4.5 million to have lunch with Warren Buffet has abruptly cancelled and is now reported to be in China, barred from foreign travel.

The Chinese authorities are alleging that Justin Sun, the US educated founder of the cryptocurrency Tron, has engaged in “illegal fundraising, money laundering, gambling and spreading pornography.”


Sun has denied the charges and claimed that he was suffering from kidney stones and couldn’t travel, but appeared in video chats, looking rather healthy.

After Chinese regulators tightened controls on cryptocurrencies, Sun moved Tron’s operations to Singapore.

But, even there some Tron users have claimed to have been defrauded.

Mr. Buffet did not comment on this turn of events.

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at:
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