SEC sues Touzi Capital for allegedly defrauding over 1,200 crypto investors
The SEC claims Touzi Capital misled investors by stating their funds would finance crypto mining operations, but instead used them for unrelated expenses.
The United States regulator has taken legal action against investment firm Touzi Capital over allegedly misleading investors about the liquidity and profitability of its crypto asset mining fund.
Touzi Capital allegedly defrauded over 1,200 US investors through security offerings of its crypto asset mining fund, raising “almost $95 million,” according to a statement published by the US Securities and Exchange Commission (SEC) on Nov. 29.
The investment was allegedly pitched to investors as funding crypto mining operations. However, the SEC claims this wasn’t true.
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Author: Ciaran Lyons
