News Explorer — SEC and Justice Department Charge BitClout Founder With Fraud

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Jul 30, 4:27 pm

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SEC and Justice Department Charge BitClout Founder With Fraud

The SEC has charged the founder of BitClout, Nader Al-Naji, with fraud, accusing him of lying to investors and using their funds for personal expenses. The DOJ has also filed charges against Al-Naji, but details of the case have not been disclosed. The SEC alleges that Al-Naji raised over $257 million in unregistered securities and used $7 million to purchase a mansion and other personal items.

The SEC has charged the founder of BitClout, Nader Al-Naji, with fraud, accusing him of lying to investors and using their funds for personal expenses. The DOJ has also filed charges against Al-Naji, but details of the case have not been disclosed. The SEC alleges that Al-Naji raised over $257 million in unregistered securities and used $7 million to purchase a mansion and other personal items.

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