Crypto wunderkind and creator of Tronix Justin Sun may have found himself in a legal pickle on top of his alleged health issues according to report by Chinese local media Caixin and 21st Century Business Herald.
Caixin published a report on Tuesday, July 23rd stating Sun was being subjected to border control by the Chinese government due to ongoing investigations as to the illegal fundraising for the Tron project back in September 2017.
Not only that but both media sites stated in their reports that Sun was facing charges of money laundering, gambling and peddling pornography. As such the reports stated that the state government has appointed a special committee on internet safety to investigate the CEO of both Tronix (aka Tron) and file sharing protocol BitTorrent.
It appears that these could be the reasons why Sun and the Tron Foundation decided to postpone the highly publicized and anticipated Power Lunch between Tron and his crypto friends and Billionaire investor Warren Buffett.
Buffett has been a cynical critic of cryptocurrencies especially flagship crypto Bitcoin, at one time calling it “rat poison.”
Sun had hoped to use the event to educate Buffett of the nascent blockchain technology together with other crypto notables. As of Monday, Sun had successfully recruited Jeremy Allaire, the CEO of Circle; Yoni Assia, founder of social trading service eToro; Helen Hai, head of Binance’s Charity Foundation; Charlie Lee, the creator of Litecoin and Chris Lee from Huobi Global. The lunch only cost him $4.57 million donated to Glide Charity.
On Monday, the Tron Foundation announced that Sun had come down with an illness (kidney stones) and therefore had arranged with Buffett to postpone the Lunch which was scheduled for this week on Thursday, July 25th.
The luncheon location, which was initially supposed to be New York was changed to San Francisco. Now despite the Chinese media reports that Sun is barred from leaving China due to the allegations against him, Sun broadc asted a live Periscope video on Tuesday evening that seemed to dispel the idea that Sun was in China.
In the video, Sun used his camera to show off his location which was close to the Bay Bridge in San Francisco. “It’s pretty comfortable in San Francisco,” he said adding that he was not feeling too well supposedly from his illness.
In reaction to the uncertain negative reports surrounding Tron and its founder, the price of Tron token TRX slid more than 10% on Tuesday falling below Stellar on the Coinmarketcap rankings.