The trial of a former South Korean police officer has begun in Gwangju. The ex-law enforcer denies taking bribes throughout a suspected crypto fraud investigation.
Per the information broadcaster YTN, the previous police sergeant is accused of receiving bribes from a crypto “dealer.”
Prosecutors suppose the ex-police officer (surname: Jang) took over $30,000 in money “on two events” in 2021.
The prosecution service stated that Jang was a part of a group investigating suspected crypto fraud within the capital Seoul.
Prosecutors say {that a} dealer surnamed Seong gave Jang the cash in a bid to divert the course of the investigation.
🇰🇷 S Korean Metropolis of Incheon Seizes $375,000 Value of Crypto from ‘Tax Dodgers’
South Korea’s #Incheon says it has confiscated $375,000 value of crypto property from “tax-evading” residents who tried to cover their earnings in token wallets.#CryptoNewhttps://t.co/B1qL15Vrgy
— Cryptonews.com (@cryptonews) January 4, 2024
The court docket heard that Jang stated he would “exert an affect” in a case that was “being investigated by the Seoul Metropolitan Police Company’s Monetary Crimes Investigation Unit.”
Jang confessed to taking cash from Seong. However Jang claimed the funds had been loans, not bribes.
Jang instructed the court docket that an organization the place he “served as an government” had been “experiencing [financial] difficulties.”
The prosecution service stated it needed to summon and interrogate Seong as a witness.
Did ‘Altcoin Fraudster’ Pay to Make Police Investigation ‘Go Away?’
The case seems to be linked with the trial of a suspected crypto fraudster who allegedly told victims they were investing in an art-themed altcoin and associated NFTs.
⚖️ Trial of ‘Artwork-themed Altcoin Fraudster’ Underway in South Korea
The trial of a suspected crypto fraudster who allegedly instructed victims they had been investing in an art-themed altcoin and NFTs has begun at court docket in Gwangju, South Korea.#CryptoNews #NFThttps://t.co/EGvIRBuJPc
— Cryptonews.com (@cryptonews) December 12, 2023
Prosecutors at this trial say a person surnamed Tak, aged 44, “cheated” 13 “victims” out of some $2.1 million.
Officers suppose Tak paid Seong over $830,000 to assist put a cease to a police investigation into Tak’s enterprise dealings.
Tak, nonetheless, has claimed that funds made to Seong had been authorized and “above board.”
Final yr, the South Korean Supreme Court docket jailed a crypto fraudster for 10 years, after listening to he amassed $153 million by working a bogus crypto agency named QRC Financial institution.
And final week, cops in Incheon, Gyeonggi Province, arrested a man on suspicion of stealing cash during an in-person OTC exchange.