Crypto proves Risky Business for the unsuspecting Porn Star Kendra Lust HERE https://www.brazzers.com/pornstar/2617/kendra-lust/?ats=eyJhIjozMDgxNzUsImMiOjU5MDQwMjk0LCJuIjo4NCwicyI6NjE3LCJlIjo5ODYyLCJwIjoxfQ
In a move that demonstrates the risks investors face, when cryptocurrency securities are offered without proper disclosure, The Securities and Exchange Commission (SEC) has charged crypto asset entrepreneur Justin Sun and his companies. Charges with unregistered offers and sales of Tronix (TRX) and BitTorrent (BTT) crypto asset securities, as well as wash trading and illegal promotion by celebrities. The SEC has also charged eight celebrities.
Kendra Lust and Lindsay Lohan, are among a list of porn stars, and celebrities to rappers charged by the US Securities and Exchange Commission
Lindsay Lohan and Kendra Lust were charged for illegally touting TRX and/or BTT without disclosure. Both Kendra Lust and Lindsay Lohan were compensated for allegedly doing so and for the amount of their compensation.
The SEC simultaneously charged the following eight celebrities for illegally touting TRX and/or BTT without disclosing that they were compensated for doing so and the amount of their compensation.
• Lindsay Lohan
• Jake Paul
• DeAndre Cortez Way (Soulja Boy)
• Austin Mahone
• Michele Mason (Kendra Lust)
• Miles Parks McCollum (Lil Yachty)
• Shaffer Smith (Ne-Yo)
• Aliaune Thiam (Akon)
The SEC’s complaint, filed in U.S. District Court for the Southern District of New York
The SEC alleges that Sun and his companies offered and sold TRX and BTT as investments, through multiple unregistered “bounty programs,” which directed interested parties to promote the tokens on social media. Kendra and others allegedly joined and recruit others to Tron-affiliated Telegram and Discord channels, and create BitTorrent accounts in exchange for TRX and BTT distributions.
The SEC further alleges that Sun, BitTorrent Foundation, and Rainberry offered and sold BTT in unregistered monthly airdrops to investors. Investors who purchased and held TRX in Tron wallets or on participating crypto asset trading platforms. Each of these unregistered offers and sales violated Section 5 of the Securities Act.
Porn Star Kendra Lust would never intentionally engage, knowing this was illegal
The Commission also alleges that Sun violated the antifraud and market manipulation provisions of the federal securities laws. By artificially inflating the apparent trading volume of TRX in the secondary market. Sun allegedly directed his employees to engage, in more than 600,000 wash trades of TRX between two crypto asset trading platform accounts he controlled, with between 4.5 million and 7.4 million TRX wash traded daily. This scheme required a significant supply of TRX, which Sun allegedly provided. As alleged, Sun also sold TRX into the secondary market, generating proceeds of $31 million from illegal, unregistered offers and sales of the token.
Go After the culprits, not innocent porn star
In addition to Sun, eight celebrities were charged with illegal promotion of TRX and/or BTT without disclosing their compensation. These celebrities include Lindsay Lohan, Jake Paul, DeAndre Cortez Way (Soulja Boy), Austin Mahone, Michele Mason (Kendra Lust), Miles Parks McCollum (Lil Yachty), Shaffer Smith (Ne-Yo), and Aliaune Thiam (Akon).
The SEC alleges that, The individuals were paid to promote TRX and/or BTT on social media, without disclosing their compensation, violating federal securities laws.
Sometimes people in power gets turned on by venting to the media
The SEC’s investigation was conducted by Adam B. Gottlieb, Ann Rosenfield, John Lucas, and John Marino, and it was supervised by Paul Kim, Michael Brennan, Jorge G. Tenreiro, and David Hirsch. The SEC’s litigation will be led by Timothy Halloran and Mr. Gottlieb, under the supervision of Melissa Armstrong.
Just Paid for tweeting is dangerous? Free Kendra already, wtf?
In a statement, SEC Chair Gary Gensler said, “This case demonstrates again the high risk investors face when crypto asset securities are offered and sold without proper disclosure.
Go after who really broke a law
As alleged, Sun and his companies not only targeted U.S. investors in their unregistered offers and sales, generating millions in illegal proceeds at the expense of investors. All named Principals also coordinated wash trading, on an unregistered trading platform, to create the misleading appearance of active trading in TRX. Sun further induced investors to purchase TRX and BTT by orchestrating a promotional campaign in which he and his celebrity promoters hid the fact that the celebrities were paid for their tweets.”
