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.”

justin-sun-green-background-coin-jazeera-bitcoin-news

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.

https://www.caixinglobal.com/2019-07-24/exclusive-buffett-lunch-winner-barred-from-foreign-travel-101443031.html

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: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.