Investors later faced frozen accounts and withdrawal problems, according to the agency.
TSAI Allegedly Sold Fake Trading Bots
TSAI allegedly raised at least $2.8 million from 1,715 investors by offering AI trading bots priced between $100 and $500,000. The SEC said the program also offered payments for referring new investors.
The agency alleges the bots did not exist and that deposits were routed into consolidation wallets. Investors seeking withdrawals were allegedly asked to pay additional verification fees or taxes.
The SEC is seeking court orders to halt the alleged schemes, recover investor funds and impose financial penalties. The allegations have not been adjudicated by a court.
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