FinTelegram reported on the alleged insider trading of the former TenX president Julian HOSP. It was pretty clear to us that Julian HOSP’s sale of 2.2 Million PAY security tokens is to be qualified as insider trading which is a severe violation of securities laws. In a YouTube lifestream session, PAY token issuer TenX and its founder Toby HOENISCH confirmed this insider transaction quite openly.
TenX Statement on Youtube
“At TenX, we have very strict insider trading rules and policies, especially for executors like myself and Julian. We have a rule that you have to announce to the board before you do any trades. What I can say about these transfers is that we have not received any notification,” said Toby HOENISCH, co-founder & CEO. “There is a statement from Julian that said he has sold some. From the TenX perspective, we have not done any trades in the timeframe from the 21st December until today. In the case of these trades, we also don’t know yet if we will want to pursue anything further.”
From all the information and statements available to the public, we can rightfully conclude that Julian HOSP lied to the public about his PAY token transaction. Again, he lied! His departure from TenX as well as his real role with the crypto startup mirrors pretty much his work with the Austrian Ponzi scheme LYONESS.