Shiba Inu-themed token Kishu Inu co-founder accused of 'rug pull,' facing lawsuit for allegedly taking nearly $10 million from investors A federal court in the Northern District of Illinois has released an indictment accusing Kishu Inu co-founder, 28-year-old Alexander Sisemore (nicknamed 'Kishu Man'), and several accomplices of wire fraud, with a total of three charges. The indictment states that after the token launched in April 2021, its market cap once exceeded $1.6 billion. The team publicly claimed it was 'fairly issued, with no tokens held by the team,' but secretly transferred 6% of the tokens to wallets under their control before the public sale. They then gradually sold off the tokens, personally profiting at least $9.8 million. Sisemore is expected to surrender and appear in court at a later date. His lawyer stated that the government cannot prove the allegations and will 'defend in court.' Prosecutors are also seeking to confiscate the related proceeds and two crypto wallets linked to him.