On Wednesday, October 7, 2026, the US Department of Justice announced that the creator of the digital asset Kishu Inu has been indicted in federal court in Chicago on charges stemming from an alleged $9 million “rug pull” fraud scheme.
Alexander Sisemore, 28, of Fayetteville, Arkansas, who is also known as “Kishu man” and “Kimbo,” founded Kishu Inu, which launched in 2021 and later reached a market capitalization of more than $1.6 billion.
A grand jury in the US District Court for the Northern District of Illinois returned the indictment on Tuesday. It alleges that Sisemore and others made materially false statements to investors to preserve the token’s liquidity and push its price higher in the cryptocurrency market. At the same time, the indictment says they quietly sold off a large quantity of Kishu Inu tokens that they had secretly set aside for themselves when the asset was created.
Prosecutors say many of the alleged misrepresentations were directed at current and prospective investors through social media platforms, including Telegram, Twitter, Facebook and Reddit. The scheme, commonly referred to as a “rug pull,” allegedly generated roughly $9 million in personal profit for Sisemore, according to the indictment.
Sisemore faces three counts of wire fraud. Each count carries a maximum penalty of 20 years in federal prison. An arraignment date in Chicago has not been set.
Andrew S. Boutros, US Attorney for the Northern District of Illinois, and Ryan Whalen, Special Agent-in-Charge of the FBI’s Chicago Field Office, announced the charges. Assistant US Attorneys Elie Zenner and Matthew Getter are prosecuting the case.
The FBI’s Chicago Field Office is seeking to identify Kishu Inu investors, encouraging anyone with relevant information to complete an online form. Responses are voluntary.
Source: US Department of Justice
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