Securities and Exchange Comission v. Eng Taing and Touzi Capital, LLC

I. BACKGROUND

23 In November 2024, the Securities and Exchange Commission (“SEC”) filed a 24 complaint alleging fraud against Eng Taing and the entity he controls—Touzi Capital, 25 LLC. [Doc. No. 1.] The complaint alleges that Defendants made false representations to 26 investing clients regarding the use of clients’ funds and the company’s investment business. 27 [Doc. No. 1 at 1–4.] Additionally, Touzi Capital has allegedly collapsed and its investors 28 have been unable to communicate with the company or Defendant Taing. [Doc. No. 1 at 5.] The SEC seeks injunctive relief, disgorgement of ill-gotten gains, an officer and director bar against Defendant Taing, civil penalties, and pre-judgment interest. [Doc. No. 1 at 8.] Faridani filed a motion to intervene on January 9, 2025 to protect a claimed personal financial interest arising from investments made with Defendants. [Doc. No. 5.] The Court denies the motion. II. DISCUSSION a. Intervention as a Matter of Right Faridani seeks to intervene in the case as a matter of right pursuant to Fed. R. Civ. P. 24(a). Intervention as a matter of right allows a…