Wallace, a member of the founding group behind PEPE, confirmed the development on August 14, 2026. According to the investor, SEC enforcement staff notified his legal counsel that the investigation had concluded without a recommendation for sanctions or legal proceedings.
SEC Ends Investigation into Eric Wallace Regarding PEPE
The U.S. Securities and Exchange Commission has closed its inquiry into Eric Wallace concerning the PEPE project, opting against pursuing any enforcement action. This conclusion resolves a regulatory matter that Wallace first brought to public attention in December 2024, effectively clearing him of potential charges after an exhaustive staff investigation.
Wallace stated that he chose to disclose the existence of the probe nearly two years ago to maintain transparency. By providing this update, he aims to finalize the public record regarding his involvement with the project. Currently, Wallace continues to operate as an active investor based in San Francisco.
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