Kishu Inu Founder Charged with $9 Million Rug Pull

The founder of Kishu Inu has been charged by the U.S. federal prosecutors for a $9 million rug pull scam. It is reported that the developers lured investors and then sold off their holdings to pocket the profits. The U.S. Attorney's Office for the Northern District of Illinois charged Alexander Sizemore on the 7th, who has been operating online under the names 'Kishu Man' and 'Kimbo.' Kishu Inu was launched in April 2021 and had a market capitalization exceeding $1.6 billion, but prosecutors allege that Sizemore misled investors about the token holdings and made a profit of $9 million. Kishu Inu claimed in its white paper that 'there are no tokens allocated to the team,' but prosecutors confirmed that 6% of the total supply was moved to a wallet controlled by Sizemore. Sizemore reportedly made $9 million, while another founder made $800,000. Sizemore has been charged with wire fraud, and each charge carries a maximum sentence of 20 years in prison. The FBI is collecting information related to Kishu Inu investors.

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