Ault Alliance Inc., a Las Vegas-based holding company, and its leadership settled charges that they made several misrepresentations in regulatory disclosures, according to a Securities and Exchange Commission order filed Tuesday.
The company and its executives allegedly made misleading statements and omissions concerning the performance of its crypto asset mining business and a $50 million purchase order from a “related party” called Avalanche International Corp., according to the order. Ault Alliance also improperly recorded a $75,000 payment to an individual for consulting services, which was instead used to extinguish then-CEO Milton Charles “Todd” Ault III’s personal debt, ...
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