Crypto hedge fund BKCoin fired co-founder Kevin Kang in October for allegedly misappropriating $12 million in assets from three multi-strategy funds, according to filings with a Florida district court. The court documents date back to Oct. 28 but have largely gone unnoticed.

Miami-based BKCoin was founded in 2018 by Carlos Betancourt and Kang and claimed $150 million in assets, according to a Business Insider profile in June. The firm oversees at least five funds – including three multi-strategy funds – and multiple separately managed accounts. The multi-strategy funds at the heart of the court case have six U.S. and foreign businesses as its investors, who have collectively invested over $18 million that they now hope to recover, according to the court documents.

(by Brandy Betz)