According to ChainCatcher, the Criminal Division 2 of the Seoul Central District Court in South Korea sentenced A and B, who were arrested and prosecuted for participation in criminal groups and activities and suspected fraud, to five years in prison respectively, and C was sentenced to two years and six months in prison.
The judge pointed out that they worked together with several accomplices to carry out fraud in an organized manner, causing property losses to the victims and having a negative impact on the overall healthy financial order of society.
According to the investigation, these people are suspected of creating scam coins in the Incheon area between June last year and January this year, defrauding 6 victims of a total of approximately 300 million won (approximately US$210,000) in investment funds.
They approached investors by offering the opportunity to buy coins that were about to be listed at a low price, pretending to be employees of securities companies and proposing to buy back coins at a high price, deceiving victims into making large purchases, and then disappeared and moved offices to continue committing crimes.
