SEC investigates Salt Lending & former CEO Erik Voorhees

posted about 1 month ago
Crypto loans startup Salt Lending and its former CEO, Erik Voorhees, are said to be under investigation by the SEC. “People familiar with the probe” as saying Salt was subpoenaed by the SEC in February seeking information on its $50 million initial coin offering (ICO) held in late 2017.

Apparently under investigation is whether Salt’s crypto fundraising effort was in fact a securities offering that should have been registered with the regulator, the WSJ says, as well as how tokens were distributed to “insiders” and how the sale proceeds were spent. Backing up the WSJ’s sources, a private lawsuit filed Tuesday in Colorado by a former Salt executive also states that Salt is under SEC investigation.
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