South Korean Man Jailed For $2M Crypto Fraud
- The 2nd Criminal Division of the Changwon District Court in Gyeongnam Province sentenced a man to 3 years in prison for fraud.
- The crypto scam involved embezzling approximately 2.93 billion won (around $2.04 million).
- Court cited the use of a “round-robin” scheme and noted that only partial restitution was made, justifying the custodial sentence.
The war on crypto investors continues as few individuals were recently caught in a crypto scam web. A man in his 30s from South Korea has been convicted for 3 years by the 2nd Criminal Division of the Changwon District Court in Gyeongnam Province for defrauding a cryptocurrency investor out of 2.93 billion won, roughly equivalent to $2.04 million.
