SEC sues Touzi Capital for fraudulent activities
United States Securities and Exchange Commission (SEC) recently took legal action against Touzi Capital, an investment firm accused of deceiving investors. The SEC alleges that Touzi Capital misled around 1,200 US investors by providing false information about the liquidity of its crypto asset mining platform and the potential profits investors could make.
In the SEC’s statement, it was mentioned that Touzi Capital engaged in fraudulent activities by offering a fake securities offering to investors, leading them to believe they were investing in a legitimate mining fund. The SEC discovered that the investment firm made a total of $95 million through this deceitful scheme.
Instead of using the funds for the intended purpose, Touzi Capital diverted the money to other subsidiaries that were not involved in any crypto-related activities or mining operations.
As a result, the SEC has filed a lawsuit against Touzi Capital to hold them accountable for their fraudulent actions. Many industry observers anticipate that similar cases brought by the SEC may be resolved or dismissed as the new administration transitions into power.
