Scammers Damage The Image Of Cryptocurrency

Today, the 3rd Criminal Division of the Daejeon District Court (South Korea) sentenced B (62 years old), who was prosecuted for fraud, to 10 years in prison.

From August 2017 to July of the following year, B founded a company in Dunsan-dong, Seo-gu, Daejeon and traveled around the country holding business meetings, misleading investors by saying: "If you buy this coin, the value will skyrocket in a short period of time and you can make a killing." This was a lie.

In particular, it is known that B scammed investors into believing that the coin would increase from 4 won to 5,000 won after listing.

The first trial court said: "This is a classic financial fraud crime of multi-level marketing, where victims are recruited by promising them that cryptocurrency will increase in value and then they are harmed by being told to recruit other victims. The amount of damage is over 18 billion won."

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