A cryptocurrency casino creator lost about $3.7 million of his investors’ funds on risky digital asset trading and online gambling, a Securities and Exchange Commission enforcement action said.
Richard T. Kim, the founder and CEO of Zero Edge Corp., spent most of the roughly $3.8 million in his company’s crypto wallet across four days, the SEC told the US District Court for the Southern District of New York. Kim confessed to his investors that he misappropriated and lost the money, but misled them about “the full extent of his misconduct,” said the commission’s complaint filed Wednesday.
Kim raised funds ...
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