This week, Isaac denounced those statements and separated itself from the company’s leadership team after reports surfaced claiming that the SEC was investigating Jon Isaac on a billion-dollar deal between Alt5 Sigma and World Liberty Financial.
Looking at this issue, Beincrypto revealed that Isaac and Alt5 Sigma, previously branded as Janone Incorporated, are part of another ongoing SEC investigation. In 2021, regulators requested ISAAC for financial and disclosure fraud.
Alt5 Sigma investigation
Earlier this week, news broke that Alt5 Sigma, the company involved in President Donald Trump’s $1.5 billion deal with World President Liberty Finan, was reportedly investigated by the Securities and Exchange Commission (SEC) for potential fraud.
This assertion comes from a news report published by the information. The report allegedly claimed that the company’s presumed president, John Isaac, was engaged in deceptive behavior, including income inflation and stock manipulation.
At this stage, the SEC has not confirmed the presence of a new probe to the Alt5 Sigma. Beincrypto was unable to track the filing. However, I found another complaint that the SEC filed against ISAAC in 2021.
Ongoing SEC Cases for Live Ventures
Isaac is a Las Vegas-based venture capitalist, entrepreneur and CEO of Live Ventures Incorporated, a now-publicly-publicly-publicly-publicly-publicly-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-public-
Isaac joined social media to refute the charges following this week’s allegations against Isaac over his involvement in fraudulent activities surrounding the Alt5 Sigma-Wlfi deal.
In a post on X, he denied having a leadership role in Alt5 Sigma and made it clear that he is currently only active as head of live ventures. However, he admitted to owning more than a million shares of Alt5 Sigma.
Alt5 Sigma has used its own social media to make it clear that he has “no knowledge of current research into US activities.”
However, the posts omit important details. Alt5 Sigma currently lists Jon Isaac’s father, Tony Isaac, as the company’s director. Although Tony Isaac has not been appointed as a defendant in the SEC complaint, his governance role links the family directly to Alt5 Sigma.
In 2021, the SEC charged for a live venture, and another publicly traded company, Janone, was accompanied by a series of fraudulent misrepresentations.
Jon and Tony Isaac are directly involved with Jon as CEO of Live Venture and Jon as CEO of Janone and member of Live’s board of directors. In 2024, Janone rebranded it to Alt5 Sigma.
The SEC’s accusations against both companies are broad.
Enlarged revenue and stock manipulation claims
In August 2021, the SEC officially filed multiple report violations with Jon Isaac and Live Ventures. These include income and earnings per share, stock promotions and secret trading, and private executive compensation.
The submission also included Virland Johnson, Chief Financial Officer of Live and Janone, allegedly supporting and behaving Isaac.
Despite repeated attempts by Beincrypto to check with the SEC whether the investigation was underway, they received no immediate responses. However, the case remains active, according to the public documents.
To make the timeline a context, the SEC claims that in 2016 ISAAC designed a transaction to raise revenue for the live venture’s fiscal year. Isaac’s operation claimed to have made a seeming appearance that negotiations had begun before the end of the year.
The transaction reportedly created fraudulent “other income” worth $915,500, increasing Live’s 2016 pre-tax income by 20%.
According to the SEC, Isaac profited from the resulting surge in Live stock. Meanwhile, Live Ventures reported in a press release representing 2016 as the company’s most successful year.
“Live Ventures reported a record $79 million revenue, an increase of 136% year-on-year with net profit of approximately $17.82 million.
Regulators alleged that Live and Isaac exaggerating earnings per share by 40% by improperly underestimating the company’s outstanding share count.
Additionally, the SEC aggravated the market impact by claiming that Isaac had hired a stock promoter to raise interest in live ventures.
Isaac’s legal team strongly denied these claims and is in dispute, according to court documents filed in the U.S. District Court for Nevada. Regardless of the complaints, Live’s shares rose significantly in the last month of 2016.
Cases of overcompensation and underreporting
The SEC investigation also alleged that Live Ventures, Isaac and Johnson misrepresented the date of Live Accled Appliancesmart, a new subsidiary of Janone Incorporated.
Following the acquisition, LiveVentures is said to have recognized a “bargain purchase gain” of over $3.7 million in the first quarter of 2018. This profit represents the profit recorded when the company purchases another business that is less than the value of its assets. The SEC claimed that Live Ventures had an unprofitable quarter without it.
The complaint further alleged that Isaac underreported his executive compensation in a major disclosure document presented before the shareholders of Live Venture.
According to the SEC, the company reported that ISAAC received only $162,000 in additional compensation between 2016 and 2018.
In reality, he apparently received nearly twice that.
Isaac’s continued relationship with Alt5 Sigma
An investigation into Isaac is ongoing, but the SEC is seeking that Jon Isaac and Johnson will be banned from acting as an office if convicted.Directors of RS or public publisher.
These requests do not apply to him as Tony Isaac is only referenced as a person associated with the complaint and is not listed as a defendant.
Despite not playing a direct leadership role in Alt5 Sigma, documents submitted to the SEC in 2024 prove that there is a formal business relationship between Isaac, Johnson, Live Ventures, and Alt5 Sigma.
Submission details details the two-year consulting agreement between ISAAC and Alt5 Sigma, which began in March 2024. ISAAC’s responsibilities include providing strategic financial advice, providing sales and business development guidance, and holding weekly calls with management.
It also revealed that Isaac Capital Group and Live Ventures were Alt5 Sigma creditors when they were operating as Janone.
Isaac’s promissory note liability was converted to 465,753 shares in December 2024. This shift highlights that Isaac maintains the financial benefits tied to Alt5 Sigma even though he is publicly distancing himself.
Meanwhile, the Alt5 Sigma website does not list Johnson in the leadership role.
However, Johnson signed his 2024 SEC filing in March 2025 as the company’s Chief Financial Officer.
Post World Liberty Financial’s $1.5 billion partner refuses SEC scams. Records suggest that in another way it first appeared in Beincrypto.
