The BitClout founder facing fraud charges appeared in court on Monday and was released on bail

CahinCatcher news, BitClout founder Nader Al-Naji was arrested last Saturday in Los Angeles on charges of telecommunications fraud in New York. On Tuesday, federal regulators filed a civil lawsuit against him. He appeared in federal court in Los Angeles on Monday and was released on bail.

Previous news, BitClout founder Nader Al-Naji is accused by the U.S. Securities and Exchange Commission of implementing a fraudulent cryptocurrency scheme worth millions of dollars, involving a social media platform called BitClout and its namesake native token.