SEC Sues Investment Firm Touzi Capital For Defrauding Investors And Raising $100M
The U.S. Securities and Exchange Commission has taken legal action against investment firm Investment Capital for allegedly misleading investors about the liquidity and profitability of its crypto-asset mining fund. It defrauded more than a thousand investors and raised more than $100 million through unregistered securities offerings. The SEC said that Tozi Capital and its CEO commingled and misappropriated investors’ funds and raised funds through false and misleading statements. The defendants mixed these funds into their various businesses, some of which had nothing to do with crypto-asset mining. The CEO allegedly misappropriated some of the funds for personal use.
