In most jurisdictions, the law demands that a company and its representatives must not issue false information about their assets, revenues, financial situation etc. If they do so they will be held liable by the law/prosecutors. It doesn't matter if they issue securities or tokens (that may be securities). That's just one example how the law protects investors. Currently, there is an intense discussion in most jurisdictions about the law and regulation around ICOs to protect investors and punish scams and frauds.