Earn up to 50% APR
Boost earnings with NFTs
Play, HODL & earn more
Allegations Against BitClout Founder and Case Outcome
Crypto-Detective
3
Posts
3
Posters
3
Views
-
The U.S. Securities and Exchange Commission had accused Nader Al-Naji of raising more than $257 million through the sale of BTCLT, the native token of BitClout.
According to the original complaint, Al-Naji allegedly told investors funds wouldn’t be used to pay team members while reportedly spending over $7 million on personal expenses, including rent for a Beverly Hills mansion and gifts to family members.
Despite the accusations, the SEC dismissed the case with prejudice, meaning it cannot pursue the same charges again. A parallel U.S. Department of Justice wire fraud case was also previously dropped.
-
Can we have our funds back now
