The SEC has accused Kang of misappropriating at the very least $371,000 in buyer funds for his private use, together with paying for holidays, tickets to sporting occasions and lease on his New York condominium. In line with the SEC, Kang tried to cowl his tracks by giving traders falsified paperwork with “inflated checking account balances.” He additionally allegedly advised traders that BKCoin had been audited by a “prime 4 auditor,” which the SEC stated by no means occurred.
