The SEC claims Touzi Capital misled investors, saying their funds would be financing crypto mining operations, but were actually spent on unrelated expenses.
The United States regulator has taken legal action against investment firm Touzi Capital over allegedly misleading investors about the liquidity and profitability of its crypto asset mining fund.
Touzi Capital allegedly defrauded over 1,200 US investors through crypto asset mining fund security offerings that raised “almost $95 million,” according to a statement published by the US Securities and Exchange Commission (SEC) on Nov. 29.
The investment was allegedly pitched to investors as funding crypto mining operations. However, the SEC claims this wasn’t true.
