Bank records show that this “Crypto King” received $36.3 million from investors, nearly half of which he spent on himself.
The money came from investors but was recorded as personal expenses—that’s where the problem lies. As for how much of the $36.3 million can be classified as direct extravagance and how much still counts as operating or investment expenses, it needs to be calculated using the same criteria.
The money came from investors but was recorded as personal expenses—that’s where the problem lies. As for how much of the $36.3 million can be classified as direct extravagance and how much still counts as operating or investment expenses, it needs to be calculated using the same criteria.