In brief
- An indictment was unsealed against former Zero Edge CEO Richard Kim.
- He allegedly admitted to gambling away the crypto casino firm’s seed round funding.
- Federal prosecutors say he misappropriated $3.8 million.
Federal prosecutors in New York are pursuing fraud charges against the former CEO of a crypto-powered casino, claiming the 39-year-old gambled away investors’ cash.
The U.S. Justice Department recently charged former Zero Edge CEO Richard Kim with securities and wire fraud for allegedly diverting $3.8 million worth of seed round funding to himself for personal use, according to an indictment unsealed on Wednesday.
Zero Edge closed its $4.3 million seed funding round last June, and during a seven-day stretch that month,…
