ALT5 Sigma, a newly announced investment partner of U.S. President Donald Trump’s crypto platform World Liberty Financial (WLF), has refuted reports suggesting an SEC investigation into one of its executives, Jon Isaac. These allegations emerged after The Information reported on Tuesday that Isaac, a venture capitalist with ties to ALT5, is under scrutiny for alleged inflated earnings and insider share sales linked to the company’s recent $1.5 billion deal with WLF. ALT5 Sigma released a statement stating that Jon Isaac was never president or advisor at the firm, and they possess no knowledge of any ongoing SEC inquiry. Isaac himself confirmed his innocence on X, denying allegations that he is facing an investigation while clarifying he is not the company’s president. In response to this controversy, the stock price for ALT5 (ALTS) dropped significantly, following a 10.5% decline to $10.48 in trading after Tuesday’s report before falling further after-hours to reach $5.39, below its August 12 price when the company announced the $1.5 billion share sale for WLF’s treasury. Isaac, formerly CEO of ALT5’s predecessor JanOne before its public listing through a U.S. merger in 2024 and now CEO of Live Ventures, continues to hold significant shares in ALT5. He holds over one million shares worth approximately $5.48 million and remains active as a shareholder, regularly purchasing shares. While his father currently serves as the president and chairman of ALT5 on its website, SEC filings from December reveal Isaac’s two-year consulting agreement with ALT5, which tasked him with advising on various aspects of the company’s operations and holding weekly calls with management. The agreement also included a $540,000 promissory note converted into 465,753 ALT5 shares on December 23, 2024. Amidst these developments, market sentiments around Trump’s WLF have intensified scrutiny regarding potential insider trading and market manipulation accusations.