SEC Accused of Ignoring Alleged Crypto Scam Tied to Trump
The U.S. Securities and Exchange Commission (SEC) has not launched an investigation into AI Financial Corporation, a public company linked to Trump's crypto venture World Liberty Financial.
A Freedom of Information Act response revealed that the SEC couldn't find records of an investigation into AI Financial over the previous year, despite allegations of 'illegality,' 'unjust enrichment,' and 'avarice' in a shareholder lawsuit.
The suit accused the AI Financial-World Liberty arrangement of being dilutive and enriching new insiders by unlawful means. Representative Ro Khanna said the SEC 'need[s] to investigate' due to overlapping board roles between AI Financial and World Liberty.
AI Financial has denied wrongdoing, but a company spokesperson claimed it rejected attempts to present third-party allegations as facts.