Close Menu
Cryprovideos
    What's Hot

    Too Robust? Poland’s New Crypto Legislation Faces Pushback | Bitcoinist.com

    September 30, 2025

    BTC Reclaims Key Zone | Will Value Hit $150k?

    September 30, 2025

    Hollywood Actors Union Slams 'AI Actress' Tilly Norwood as Backlash Builds – Decrypt

    September 30, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Crypto News»SEC Accuses Touzi Capital of Defrauding 1,500 Buyers in $115 Million Crypto Scheme
    SEC Accuses Touzi Capital of Defrauding 1,500 Buyers in 5 Million Crypto Scheme
    Crypto News

    SEC Accuses Touzi Capital of Defrauding 1,500 Buyers in $115 Million Crypto Scheme

    By Crypto EditorNovember 30, 2024No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email



    SEC Accuses Touzi Capital of Defrauding 1,500 Buyers in $115 Million Crypto Scheme

    The US Securities and Change Fee (SEC) has intensified its authorized actions towards the crypto business, submitting prices towards funding agency Touzi Capital and its founder, Eng Taing.

    The SEC accuses the agency of orchestrating an over $100 million fraud scheme involving unregistered securities and misappropriated investor funds.

    SEC Information Prices Towards Touzi Capital for $115 Million Crypto Fraud

    The SEC’s grievance, filed on November 29, claims Touzi Capital defrauded over 1,500 traders throughout america. Between 2021 and early 2023, the agency reportedly raised $95 million for crypto mining tasks and $23 million for debt rehabilitation ventures.

    Nevertheless, the SEC alleges that the funds have been misused and pooled throughout unrelated companies for Taing’s private profit.

    “The defendants commingled investor funds amongst its numerous companies, a few of which had nothing to do with crypto asset mining, misappropriated funds for Taing’s private use, and misled traders in regards to the profitability of the companies’ operations,” the Fee alleged.

    The SEC continued that Touzi Capital marketed its choices as safe, high-yield investments much like financial savings accounts. Nevertheless, these investments have been speculative and hinged on dangerous third-party operations.

    The grievance additionally highlights how the agency’s claims about its Bitcoin mining enterprise have been deceptive. Touzi Capital promised profitability via low-cost power contracts and superior mining tools, however fluctuating power bills and tools points undermined these assertions.

    “In actuality, Touzi Capital’s ‘breakeven’ level for mining bitcoin was deceptive, as a result of the way in which this was calculated excluded identified components. Furthermore, the power prices for Touzi Capital’s crypto-asset mining companies fluctuated vastly, and it persistently had issues with its tools,” the SEC added.

    SEC reported that Touzi Capital’s operations have reportedly collapsed, leaving traders at midnight because of Taing’s lack of communication. In response, the SEC seeks everlasting injunctions, civil penalties, and the disgorgement of illicit positive factors. The lawsuit additionally features a request to bar Taing from serving as an officer or director in any firm.

    This authorized motion provides to the SEC’s aggressive enforcement monitor report below Chair Gary Gensler, who is about to step down in January. In fiscal 12 months 2024, the SEC filed 583 enforcement instances, gathering a report $8.2 billion in penalties and treatments. Excessive-profile crypto instances, together with a $4.5 billion settlement from Terraform Labs, accounted for over half of the 12 months’s monetary recoveries.

    Disclaimer

    In adherence to the Belief Challenge pointers, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to supply correct, well timed info. Nevertheless, readers are suggested to confirm info independently and seek the advice of with knowledgeable earlier than making any choices primarily based on this content material. Please be aware that our Phrases and Circumstances, Privateness Coverage, and Disclaimers have been up to date.



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Too Robust? Poland’s New Crypto Legislation Faces Pushback | Bitcoinist.com

    September 30, 2025

    Crypto firms ramp up US hiring in 2025 amid regulatory readability

    September 30, 2025

    SEC's Bow to DoubleZero Carries Main Weight for Decentralized Infrastructure: Peirce

    September 30, 2025

    Bloomberg Analysts Says ETF Odds100% After SEC Order

    September 30, 2025
    Latest Posts

    BTC Reclaims Key Zone | Will Value Hit $150k?

    September 30, 2025

    Massachusetts Weighs Bitcoin Reserve Invoice as Lawmakers Put together for Listening to

    September 30, 2025

    Tether Strikes 8,888 BTC to Reserve Pockets, Boosting Holdings – Bitbo

    September 30, 2025

    Billionaire Tim Draper Predicts Future The place Retailers Settle for Solely Bitcoin Funds

    September 30, 2025

    Coinbase’s (COIN) Bitcoin-Backed Loans Surpass $1B as Alternate Prepares to Carry Borrowing Cap

    September 30, 2025

    Eric Trump: Bitcoin Will Surpass Gold and Attain $1 Million – Bitbo

    September 30, 2025

    $1B Asia Bitcoin treasury play: AsiaStrategy begins with 30 BTC, faucets Anchorage

    September 30, 2025

    AsiaStrategy Buys 30 Bitcoin In New Aggressive Crypto Push

    September 30, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    181% Liquidation Imbalance Stuns XRP as Crypto Massacre Thickens

    June 1, 2025

    AI's Position in Crypto Scams: A Rising Concern for the Business

    May 28, 2025

    Binance Secures Historic $2 Billion Funding from Abu Dhabi Agency

    March 12, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.