After a report surfaced this week alleging that the SEC was investigating Jon Isaac for fraudulent practices in a billion-dollar deal between Alt5 Sigma and World Liberty Financial, Isaac rebuked these statements, dissociating himself from the company’s leadership team.
Looking into the matter, BeInCrypto uncovered that Isaac and Alt5 Sigma, which used to be branded as JanOne Incorporated, are part of another ongoing SEC investigation. In 2021, the regulator charged Isaac with financial and disclosure fraud.
An Investigation into Alt5 Sigma
Earlier this week, news broke that Alt5 Sigma, a company involved in a $1.5 billion deal with US President Donald Trump’s World Liberty Financial, was reportedly being investigated by the Securities and Exchange Commission (SEC) over potential fraud.
The assertion stemmed from a news report published by The Information. The report alleged that Jon Isaac, the company’s presumed president, engaged in deceptive behavior, including earnings inflation and stock manipulation.
At this stage, the SEC has not confirmed the existence of any new probe into Alt5 Sigma. BeInCrypto did not manage to track down the filing. It did, however, find another complaint that the SEC filed against Isaac in 2021.
The Ongoing SEC Case Against Live Ventures
Isaac is a Las Vegas-based venture capitalist and entrepreneur who currently serves as the CEO of Live Ventures Incorporated, a publicly traded company.
Following this week’s allegations against Isaac for his involvement in fraudulent practices over the Alt5 Sigma-WLFI deal, Isaac took to social media to refute the accusations.
In an X post, he denied having any leadership role with Alt5 Sigma, clarifying that
Go to Source to See Full Article
Author: Camila Grigera Naón
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
