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Brief
The U.S. Securities and Exchange Commission (SEC) charged Richard T. Kim, founder of Zero Edge Corporation, with misappropriating $3.7 million from investors. According to the complaint, Kim diverted funds raised for a blockchain-based online casino into his personal accounts, resulting in losses for investors. Kim's actions allegedly resulted in the loss of approximately $3.7 million of investor funds and led to the liquidation of Zero Edge Corporation. The SEC charged Kim with violating securities laws and seeks permanent injunctions, disgorgement, and civil penalties.
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