BitTorrent Cofounder Accuses Justin of Insolvency, Tron Foundation Cites Legal Reason

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BitTorrent Cofounder Accuses Justin of Insolvency, Tron Foundation Cites Legal Reason

The attacks on Justin Sun and the Tron Foundation seems to have no end to it.

Sun is associated with more projects in China other than Tron Foundation, like the Wavefield Foundation. Earlier this week, he was accused of running scams and money laundering using this network. Even more appalling allegations included his participation in ‘AccompanyingMe’ app which is apparently used for illicit sexual crimes.

Now, BitTorrent Co-Founder Bram Cohen has accused Sun of non-payment of their accusation. Bram Cohen raised the allegations on the first anniversary of the acquisition. He tweeted,

Anybody know if Justin Sun is hard up for cash? He isn’t letting the last payment for BitTorrent get out of escrow.

A representative from the Tron Foundation, Roy Liu responded to his claims by asking to address his concerns in court as a release agreement has been signed. A release agreement is a document with legal effect, provided specific requirements are met. He replied to Cohen,

FYI the money in escrow is not considered Justin’s cash. Justin has signed release agreement. Buyer/seller lawyers will follow up and settle. PM @justinsuntron [Justin Sun] if you’d like to discuss. Happy to work on more deals in the future.

According to Bram, the payment has been due for over two months. Tron Foundation under Sun seems to have restricted the escrow payments raising issues related to their contract. Moreover, since the money is in escrow, Bram is accusing Sun of “trying to get any of the cash back.”

Cliff Edward, director, global communications at Tron Foundation told the media that,

“Justin signed the release on Monday, and disbursements are now in the lawyers’ hands,” he said. “As you know with escrow, there’s no way for Justin to claw money back out of it, unless there was a legal reason to do so.”

We have also reached out to the other founder, Ashwin Navin for the status of his payment. Moreover, Justin Sun himself confirmed that since the amount is in escrow, he has no control over it. He said,

“I totally understand he wants his money, but right now it has nothing to do with me,”

Legitimate reason or not, the payment seems to have been blocked for sure. The role of the Tron Foundation and even Cohens’ role in the legal proceedings will now determine its end.

Do you think that the Cohen will be reimbursed appropriately? Please share your views with us. 

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BitTorrent Cofounder Accuses Justin of Insolvency, Tron Foundation Cites Legal Reason
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BitTorrent Cofounder Accuses Justin of Insolvency, Tron Foundation Cites Legal Reason
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The attacks on Justin Sun and the Tron Foundation seems to have no end to it.   Now, BitTorrent Co-Founder Bram Cohen has accused Sun of non-payment of their accusation. Bram Cohen raised the allegations on the first anniversary of the acquisition.
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Author: Nivesh Rustgi

Nivesh from Engineering Background is a full-time Crypto Journalist at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com

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Nivesh Rustgi 604 Articles

Nivesh from Engineering Background is a full-time Crypto Journalist at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com

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