In a major legal move, the U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Touzi Capital and its CEO, Eng Taing, accusing them of orchestrating a massive $115 million fraud. The SEC claims that between 2021 and early 2023, the firm raised nearly $95 million for crypto mining projects and $23 million for debt rehabilitation efforts from over 1,500 investors across the U.S. — only to mislead them with false promises of low-risk, stable investments.
The SEC’s complaint reveals a troubling picture: while the investments were marketed as safe and predictable, they were actually highly speculative and dependent on risky third-party operations. Even worse, funds raised for these ventures were allegedly diverted for Taing’s personal use and mixed with unrelated business activities.
As the companies faltered, Touzi Capital continued to solicit funds, leaving investors in the dark with no communication or updates. The SEC is now pursuing permanent injunctions, civil penalties, and a ban on Taing from ever serving as an officer or director again.
This case serves as a stark reminder of the risks involved in unregulated investment schemes. Stay informed and always conduct thorough due diligence before committing to any investment opportunity.
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