Former Goldman Banker Indicted: Embezzled $4 Million for Gambling and Crypto

A former executive of Goldman Sachs and JPMorgan Chase, Richard Kim, has been indicted for fraud and wire fraud after reportedly embezzling $4 million in investor funds. Kim claimed he would develop a blockchain-based casino game, but most of the funds were instead used for online gambling and personal investments in crypto. Kim pleaded guilty in his confession to the FBI and faces decades in prison as well as asset forfeiture.

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