The SEC has charged Touzi Capital and founder Eng Taing with violating securities laws, as well as committing fraud through the mishandling of investors’ funds.
According to a press release, the SEC has brought a civil action against the company, claiming that it raised over $100 million from unregistered securities offerings that misled over a thousand investors.
The Commission alleges that the defendants deceived investors by commingling and misappropriating funds, and making false statements about the liquidity and profitability of their investments. Touzi Capital offers investment opportunities in real estate, blockchain, and private equity.
The SEC is responsible for regulating securities violations, including those in the crypto industry. However, reports suggest that President Donald Trump aims to transfer oversight of the $3 trillion crypto market to the Commodity Futures Trading Commission (CFTC), including matters related to blockchain technology.
