Justin Sun settles SEC fraud case for $10 million

NEW YORK, March 5 (Reuters) – The U.S. Securities and Exchange Commission has agreed ?to settle its civil fraud ?case against Chinese cryptocurrency ?entrepreneur Justin Sun, with ?one of Sun’s companies ?paying a $10 million penalty, a court filing showed on Thursday. The SEC ?sued Sun and ?his companies Tron Foundation, BitTorrent Foundation ?and ?Rainberry in March 2023. Sign up here. It accused them of scheming to illegally distribute the ?crypto assets ?Tronix ?and BitTorrent, artificially inflate trading volume, ?and conceal payments to ?celebrity ?endorsers. Neither Sun’s lawyers nor the SEC immediately responded ?to ?requests for ?comment. Reporting by Luc…