The case of Justin Sun against the Chongqing Business Media Group media concern dates back to March 11, 2022, when the website eastmoney.com A story about the founder of Tron was published. The article claimed that Justin Sun "repeatedly participated in insider trading," "fled abroad to circumvent the ICO ban," "engaged in fraud and money laundering," and is also "under investigation by the US tax authorities and the FBI."
The statement of claim for the protection of honor and dignity filed by the businessman in the People's Court of China stated that the publication of the article caused serious damage not only to the professional reputation of the creator, but also to the entire TRON ecosystem. As the article quickly went viral, it was reprinted by some international media.
In the final verdict, the People's Court of China ruled: all allegations of San's involvement in insider trading, fraud, money laundering or any other offenses are devoid of any factual basis. The management of Chongqing Business Media Group has admitted its guilt and issued an official apology.
In April, the U.S. Securities and Exchange Commission (SEC) filed a legal complaint in the case against the founder of Tron, alleging that in the period from 2017 to 2019, the businessman was actively involved in the fraudulent trading scheme of the Bittrex crypto exchange and the sale of unregistered securities in the United States on behalf of the Tron Foundation and the BitTorrent Foundation.