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Binance News
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South Korean court sentenced illegal foreign exchange transfer gang, involving about 400 billion won
According to ChainCatcher, a South Korean court sentenced an illegal foreign exchange transfer gang, and four members were sentenced for illegally transferring about 400 billion won in foreign exchange by taking advantage of the price difference of virtual currencies. The main culprit A was sentenced to 3 years and 6 months in prison, and the other two defendants were sentenced to 2 years and 2 months and 2 years in prison respectively. One defendant was sentenced to 1 year and 6 months in prison, and was sentenced to 2 years of probation and 160 hours of community service.
The court pointed out that the gang purchased virtual currencies in Japan through Japanese investors and resold them to South Korea, taking advantage of South Korea's lower virtual currency prices to make a profit, with illegal gains of about 27 billion won. The defendants obstructed bank remittance business by forging invoices and contracts, and their criminal behavior was highly organized and of a serious nature.
The court pointed out that the gang purchased virtual currencies in Japan through Japanese investors and resold them to South Korea, taking advantage of South Korea's lower virtual currency prices to make a profit, with illegal gains of about 27 billion won. The defendants obstructed bank remittance business by forging invoices and contracts, and their criminal behavior was highly organized and of a serious nature.
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