Techub News reports that the U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Touzi Capital and its CEO Eng Taing, accusing them of a $115 million unregistered securities offering fraud. According to the complaint, from 2021 to early 2023, the defendants raised approximately $118 million through false advertising of cryptocurrency mining and debt restructuring businesses, including $95 million from the crypto mining project and $23 million from the debt restructuring project, involving over 1,500 investors nationwide. The SEC states that Taing falsely promoted the projects as "stable and predictable" high-yield savings account investments, whereas these investments were "highly speculative and lacked liquidity." The SEC accuses the defendants of misappropriating investor funds for personal purposes and continuing to solicit investors even after the business began to collapse.

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