Fake stock-trading operator jailed for laundering $2.9m in crypto – DL News
- Three accomplices also jailed for over two years each.
- Bogus trading site used logos ripped from a “famous” securities provider.
- 116 victims duped into handing fraudster $4.2 million.
A court in South Korea has jailed a man who launched a fake securities trading platform and used crypto to launder his $4.2 million profits.
The site’s operators ripped logos and other data from an unnamed “famous” securities firm in an attempt to give their scheme a veneer of authenticity, the South Korean newspaper Hankook Ilbo wrote.
The case was conducted at the Gwangju District Court’s Criminal Division, where Presiding Judge Kim Young-gyu heard that the platform operators had defrauded 116 victims. Kim jailed the man for eight years.
“Money…
