Kishu Inu Founder Faces Federal Lawsuit Over Alleged $9 Million Rug Pull
According to an indictment by a federal grand jury in the U.S. District Court for the Northern District of Illinois, Alexander Sisemore, founder of the Kishu Inu token (aka "Kishu Man"/"Kimbo"), has been formally charged with three counts of wire fraud.
The indictment states that when Sisemore and co-founder Individual A created Kishu Inu in April 2021, they secretly allocated approximately 12% of the total token supply to themselves prior to the public sale, with Sisemore receiving approximately 6%. Meanwhile, they publicly claimed that the project featured a "fair launch," that the development team held no "team tokens," and that the founders collectively held only 1.7% of the tokens.
Throughout the ongoing misrepresentations, Sisemore repeatedly sold his secretly held tokens through a Gate.io account and used multiple cryptocurrency wallets and mixers to obscure transaction trails. Between April 2021 and October 2023, Sisemore personally profited approximately $9 million, while Individual A gained roughly $800,000.
