South Korea court rulings 3 imprisonment imprisonment are imprisonment

The local court in South Korea has sentenced three men to organize the coding plan for $ 416,000.

South Korea, which has an area

The Busan Court has been imprisoned for the infidels of the codes due to the management of an illegal investment company in June 2019 and the deception of investors by defrauding them with wrong promises, “Facilitating trade is about 1,000 high -quality coins (virtual currencies) from all over the world.” They defrauded investors from 610 million won.

The fraudsters also promised the investors a 30 % monthly return for their initial investments and claimed that their trading algorithm received profits by exploiting market fluctuations. Meanwhile, investor money has been aggravated by personal expenses. The court sentenced the mastermind of the crime to be imprisoned for a period of four and a half years. One of the perpetrators was sentenced to three and a half years in prison, and the other to two years and six months.

According to the local media Reports“The Master A and others committed the crime by taking advantage of the lack of victims in knowledge about the investment of the currency”, and “the method and conditions of crime, such as deceiving investors through the exchange of coins, is very poor.”

The case emphasizes the audit of the growing South Korean authorities of encryption crimes. The country has provided stricter regulations, overseeing investor protection and supports market safety in the past few years. According to legal experts, the ruling sends a message to potential criminals that fraud is a serious crime in the world of encryption.

With the prosperity of the encryption space, South Korea imposed a strict campaign on fraud. As part of this step, the country has established a joint investigation unit run by the Prosecutor’s Office in the Solu South (JIU) region for virtual asset crimes.

Also read: Al -Imaba stopped “a three -month suspension”, as the South Korean court gives stay in death

Written by Rito Lavania

Ritu Lavania is a multi -use Web3 content creator with more than three years experience in the encryption space. It is part of the team in Cryptonewsz, where you write insightful and attractive content. She also contributed to Thecryptotimes and Coin Edition, where her work was well received by the encryption community. Maher in research, creative writing, senior economic officials, and job cooperation, creating content specifically designed for a varied audience. Population of education, devotes time to teaching children and expressing themselves through poetry. It always yearns for learning, constantly exploring new trends in Blockchain origin and digital assets. It strongly believes in telling stories to make complex encryption themes easier and attractive to readers all over the world.