US Senator Expresses Concern Over Prometheum Co-CEO’s Congressional Testimony

On Monday, U.S. legislator Thomas Tuberville (R-AL) published an unfastened missive to U.S. lawyer wide Merrick Garland and Securities and Exchange Commission (SEC) president Gary Gensler expressing interest implicit allegations that Prometheum, Inc., a registered integer plus company, whitethorn person provided mendacious grounds to Congress and violated U.S. securities laws.

U.S. Lawmaker Demands Investigation Into Prometheum

Republican legislator Thomas Tuberville from Alabama believes the integer plus steadfast Prometheum should beryllium investigated by the U.S. Securities and Exchange Commission (SEC) and Department of Justice (DOJ). In summation to Tuberville, the Republican lawmakers Mark Alford, Blaine Luetkemeyer, Ralph Norman, Byron Donalds, and Barry Loudermilk person besides signed the letter.

“We constitute to explicit interest that Prometheum, Inc. (Prometheum) whitethorn person provided mendacious grounds to Congress oregon violated U.S. securities laws,” the missive details.

Senator Tuberville points retired that Prometheum‘s Co-CEO, Aaron Kaplan, testified earlier the U.S. House of Representatives Committee connected Financial Services, stating that the institution began processing its exertion level independently from its China-based partners successful December 2019. However, audited fiscal statements and SEC filings bespeak that Prometheum continued to trust connected its concern with Wanxiang and Hashkey, subsidiaries of China-based entities, good into 2021.

The legislator emphasizes that the audited fiscal statements for 2020, included successful Prometheum’s SEC filings, intelligibly authorities that the institution relies connected Wanxiang arsenic its sole task developer. The nonaccomplishment of Wanxiang’s services could ostensibly person a important adverse effect connected Prometheum’s quality to make and support its platform, raising questions astir the claimed independency from its Chinese partners.

“If Prometheum began processing its ain exertion level wholly autarkic of its China-based, CCP-tied partners successful December 2019 arsenic Mr. Kaplan attempted to pb Congress to judge successful his legislature testimony, wherefore was this not made wide successful Prometheum’s SEC filings?” the missive asks Garland and Gensler.

Senator Tuberville urges Garland and Gensler to behaviour a thorough reappraisal of Prometheum’s statements to Congress, its audited fiscal statements, and SEC filings. The alleged inconsistencies successful these documents rise concerns astir imaginable mendacious statements to Congress and securities fraud done misleading SEC filings, the missive discloses.

The legislator concludes by highlighting the seriousness of making mendacious statements to Congress, which constitutes a crime, and the implications of submitting mendacious oregon misleading statements successful SEC filings, which constitutes securities fraud. Tuberville insists the conflicting statements made by Prometheum successful antithetic forums, combined with its ties to China-based entities with CCP connections, underscore the request for a broad investigation.

What bash you deliberation astir the senator’s missive to Garland and Gensler? Share your thoughts and opinions astir this taxable successful the comments conception below.