US Charges Wall Street Vet in $7M Crypto Casino Scheme
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Federal prosecutors have charged Richard Kim, a former executive at top Wall Street firms including Galaxy Digital, Goldman Sachs, and JPMorgan Chase, and founder of a startup crypto casino, with defrauding investors out of millions. The government alleges Kim solicited over $7 million for his venture, Zero Edge, under false pretenses and then misappropriated the funds, losing most through high-risk trades and gambling. Kim was arrested Tuesday, according to court filings. The accusations appear in a formal complaint filed in the Southern District of New York, charging Kim with wire fraud and securities fraud allegedly occurring between March and July 2024.
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