Richard Kim, a former executive at renowned Wall Street firms like Galaxy Digital, Goldman Sachs, and JPMorgan Chase, has been accused of defrauding investors in his crypto casino venture, Zero Edge. According to the U.S. Attorney’s Office for the Southern District of New York, Kim received over $7 million in investments under false pretenses, misappropriating funds, and ultimately losing nearly all of it through high-risk cryptocurrency trades and gambling. The alleged scheme occurred between March and July 2024, as detailed in court filings. Kim was arrested on Tuesday following an FBI investigation into his activities. Prosecutors have charged him with wire fraud and securities fraud for allegedly misrepresenting investments to investors.