ALT5 Sigma and Jon Isaac both moved quickly to deny a rumored probe conducted by the US Securities and Exchange Commission, but the paper trail gives investors reason to ask questions. Reports this week tied Isaac to alleged earnings inflation and insider share sales connected to ALT5’s $1.5 billion treasury deal with US President Donald Trump’s crypto platform, and the market reacted sharply. Company And Exec Deny Any Investigation According to posts on X, ALT5 Sigma – a new investment partner of the Trump family’s World Liberty Financial – said hours after the rumors that Jon Isaac is not a current or former president or adviser and that it is unaware of any SEC investigation into the company. ALT5 Sigma has been made aware of reports in the press and on social media. For the record: Jon Isaac is not –– and never was –– the President of ALT5 Sigma and he is not an advisor to the company. The company has no knowledge of any current investigation regarding its activities… — ALTS (@ALT5_Sigma) August 19, 2025 The Information first published the investigation claims on Tuesday. SEC Records Show A Consulting Link A December SEC filing paints a more connected picture. According to that filing, ALT5 entered a two-year consulting agreement with Jon Isaac in March 2024. Isaac also posted on social media, denying claims that he is the president of ALT5. He said he is not under investigation. Setting the record straight on reports from @CoinpediaNews and @theinformation : I am NOT the president of ALT5 Sigma and I am NOT under SEC investigation mentioned in these reports. I am the CEO of Live Ventures Incorporated (NASDAQ: LIVE), a publicly traded company. Any SEC… — Jon Isaac (@Jonisaac702) August 19, 2025 The same filing shows Isaac held a $540,000 promissory note that he later converted, plus interest, into 465,753 Sigma shares on Dec. 23, 2024. Past SEC Action Adds Context Reports have disclosed that the SEC filed a civil complaint against Jon Isaac in 2021, naming Live Ventures and JanOne. The complaint alleges inflating earnings, backdating contracts and using a nominee account to hide stock sales. Isaac and the companies denied wrongdoing, and that case remains active in federal court in Nevada. That prior action helps explain why fresh rumors about a probe would spread quickly and rattle investors. Company Backer Isaac is currently CEO of Live Ventures and still holds more than 1 million Sigma shares, which reports value at over $5.48 million. He has said he continues to buy ALT shares and describes himself as a supporter of the company. Live Ventures records list Tony Isaac, Jon’s father, as ALT5’s president and chairman, while ALT5’s own website lists Tony Isaac as a director. Featured image from Barrett & Farahany, chart from TradingView
