🚨 SEC attacks Touzi Capital!
Between 2021 and 2023, the company allegedly raised 100M$ via unregistered securities, intended to finance crypto mining 🖥️ and debt rehabilitation projects 📉.
👉 Problem?
The funds were allegedly:
1️⃣ Mixed with other unplanned activities.
2️⃣ Diverted for personal expenses.
3️⃣ Misrepresented as safe and liquid, like stable money accounts.
⚖️ The SEC is demanding severe sanctions: fines 💵, reimbursement of illegal gains and ban on running a company.
Founder Eng Taing and Touzi Capital have not yet responded.