Former Goldman, JPMorgan exec charged with gambling away investor funds
Richard Kim, Old Goldman Sachs and JPMorgan Chase Manager, guilty The securities and wire fraud charges are about the claim that it is abused for about $ 4 million investor funds for the initial online casino company, which is allegedly lost in a week by gambling on another site. Prosecutors said Wednesday.
Including investors who lost money in Kim’s plan Galaxy DigitalThe place where the court is an investor for six years.
The lawsuit against Kim is about Zero Edge, who was allegedly announced by the 39 -year -old New York resident after leaving Galaxy Digital in March 2024 and plans to develop a blockchain and crypto -money game application.
“After receiving the funds of investors, who abused them by transferring them to personal accounts, where leveled crypto currency transactions and the company’s money away from a significant extent,” He said.
According to the indictment, Kim, in June 2024, a $ 4.3 million seed financing tour, shortly after closing a tour of $ 3.8 million directed an investor fund.
On June 29, 2024, the indictment said, “Some investors were responsible for the loss of $ 3.67 with a e -mail. [million] From the company’s balance sheet ‘after the departure trade losses from financing revenues’ and the company lost almost all its money. “
But who actually said, “The company said that the company has abused its investors and used them in an online casino and that investors lost money because of a ‘treasury management strategy’ rather than personal gambling.”
The indictment says Kim is gambling To mix upThe website says “VIP Crypto Casino and Sportsbook”.
Zero Edge, in which Kim was on the Cayman Islands in April 2024, never started his casino. The company entered the voluntary liquidation last December.
Kim was arrested in the case on 15 April after making an application by the Manhattan US Law Office. Criminal complaint in that court.
The US lawyer’s office said on Wednesday, “Kim at the time of being arrested, confessed to FBI’a knew what he was doing ‘clearly wrong’ and ‘completely unfair’.
Kim was released with a bond of $ 250,000 after he went to court on the same day of his arrest.
Since his arrest, judges have repeatedly extended the date of a final delivery date that would ask the prosecutors to take a large jury indictment of Kim, or that the prosecutors had discussed a possible decision of the judges of the Kim’s defense lawyer.
The last extension will end on Wednesday the day after the new indictment was closed in court and showed that the parties could not reach an agreement.
Kim, in July 2024, the behavior of the Securities and the Stock Exchange Commission, “very negligent” in abuse of company funds, but ‘through’ not a great intention ‘, but rather’ gambling investor money ‘because it is a gambling addiction’ is a gambling addiction.
The complaint says that the resident of New York is a former business officer in Goldman Sachs and JPMorgan in global foreign exchange and developing market trade.
Kim left Goldman in the spring of 2018 to join the Galaxy Digital, a digital asset and data center infrastructure company founded by Mike Novogratz, the first crypto currency investor working in Goldman in the 1990s.
Manhattan US lawyer Jay Clayton said in a statement on Wednesday, “Richard Kim, promised to build a blockchain -based casino game application, misleading investors, but Ironically, who turned and said he would use to build a better casino,” he gambled. ” He said.
Kim’s defense lawyer refused to comment on the indictment.
A Galaxy Spokesman, said in a statement, “Richard Kim left Galaxy in March 2024 to start Zero Edge, a company with which Galaxy has an insignificant balance page investment.”
“After learning certain actions taken in the role of Mr. Kim in Zero Edge, we reported to the authorities with other investors.” He said.
