Kishu Inu founder charged with fraud for allegedly participating in a $9 million rug pull scam

According to The Block, Kishu Inu founder Alexander Sisemore faces three counts of telecommunications fraud related to a so-called "rug pull" scheme involving an amount of $9 million.

Prosecutors allege that Sisemore secretly sold off the tokens allocated to him at the project's launch while making false statements to investors. Currently, the Federal Bureau of Investigation (FBI) is seeking Kishu Inu investors.