CHICAGO – An Arkansas man who created a cryptocurrency that once reached a market value of more than $1.6 billion has been indicted in Chicago in connection with an alleged $9 million fraud scheme.

Kishu Inu fraud case charges

Alexander Sisemore, 28, of Fayetteville, Arkansas, is charged with three counts of wire fraud, according to the U.S. Attorney’s Office for the Northern District of Illinois.

Each wire fraud charge carries a maximum sentence of up to 20 years in federal prison.

‘Join the moon mission’

The backstory:

Sisemore, also known as “Kishu man” and “Kimbo,” founded Kishu Inu, a digital asset that launched in 2021.

The indictment alleges Sisemore and others made false claims to investors to maintain Kishu Inu’s…