CandleFocus SEC Crypto Litigation Releases: November 2024
2024-12-06
Author: Content Editor
The SEC has filed a lawsuit against Eng Taing and his company Touzi Capital, alleging a $115 million securities fraud scheme involving crypto mining and debt rehabilitation investments. Taing misrepresented these investments as stable and profitable, but they were actually mismanaged and risky. Investor funds were allegedly misappropriated for Taing's personal use, and false promises of profitability were made. The SEC is seeking injunctions, fines, disgorgement of gains, and a lifetime ban for Taing. The case highlights the SEC's commitment to combating deceptive behavior in the crypto markets.
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