Zero Edge Founder Fraud: SEC & DOJ Take Action Against Richard T. Kim for Misusing $3.7 Million in Investor Funds
The cryptocurrency sector has once again been confronted with a cautionary tale of misused investor funds, false promises, and aggressive regulatory action.
The U.S. Securities and Exchange Commission (SEC) has charged Richard T. Kim, the former CEO and founder of Zero Edge, with defrauding investors by diverting approximately $3.7 million intended for a blockchain-based online casino into personal crypto trading, gambling, and non-business expenses.