South Korean Police Officers on Trial in ‘Crypto Fraud Bribes’ Case
Two South Korean police officers are standing trial over alleged bribery in an increasingly high-profile crypto fraud case.
The newspaper Namdo Ilbo reported that on May 14, the Gwangju District Court’s Criminal Division began the trial of a 59-year-old superintendent police officer.
The officer is named in reports as “A” for legal reasons. The court is also trying a 57-year-old police lieutenant (“B”) from the same station.
The case centers around an alleged crypto fraudster surnamed Tak. The latter is accused of orchestrating an art-themed altcoin scam.
Police think Tak duped several crypto-keen victims out of about $2.1 million worth of fiat and crypto.
They have accused Tak of running a fake Ethereum (ETH) and NFT-related project.
Officers think Tak convinced several citizens to invest in a bogus crypto-related company.
When police and prosecution officials began investigating Tak, the latter hired a legal “broker” surnamed Seong (aged 62).
Prosecutors told the court that Seong paid the superintendent over $7,300 in cash bribes “on two occasions” to promote B to a higher rank.
The court heard that Seong met the superintendent police officer twice at restaurants on February 4 and 15.
Both officers have been suspended from their posts for the duration of the trials.
B first appeared in court on separate bribery charges, also related to the same case, in January this year.
Seong appears to have created and fostered a network of contacts in the local police force, as well as the Gwangju and Mokpo prosecution services.
Tak has confessed to giving Seong money to bribe prosecution officials and police officers to help clear the name of the alleged crypto fraudster.
But the plan appears to have unraveled fast. Last month, a Mokpo
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