SectorWire
SearchRegister
MenuClose

Manhattan prosecutors charge Richard Kim with diverting nearly $4m from casino start-up

Enforcement & compliance

The US Attorney’s Office for the Southern District of New York charged Richard Kim with securities and wire fraud over funds raised for crypto-casino start-up Zero Edge. Prosecutors allege he raised about $4.3m in June 2024 and transferred roughly $3.8m to personal cryptocurrency accounts, including about $1m to a Shuffle.com account. Kim was arrested on 15 April and released on a $250,000 bond; he faces up to 20 years in prison on each count if convicted.

The case concerns alleged misuse of investment funds raised to develop a crypto-casino business.

Request a correction

Flag an issue

Keep reading

Enforcement & compliance

US prosecutors charge Guardians pitchers in alleged betting scheme

Federal prosecutors charged Cleveland Guardians pitchers Emmanuel Clase and Luis Ortiz over an alleged scheme involving bets on pitches, according to the indictment unsealed on Sunday in the Eastern District of New York. Prosecutors said bettors received advance information about pitches and that the players accepted bribes; both players faced four conspiracy charges. Their lawyers said they were innocent.

Continue reading