A public official in South Korea embezzled approximately $440,000 in public funds to purchase cryptocurrency

2024-08-16 12:11:47

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ChainCatcher news, according to Yonhap News Agency, the Cheongju District Prosecutors' Office in South Korea stated on the 13th that a public official responsible for supervising the employment arrangements and support programs for North Korean defectors residing in Cheongju has embezzled 600 million won (approximately 440,000 USD) of public funds by forging various official documents over a period of about seven years since January 2017 and invested it in cryptocurrency. The prosecutors' office has now arrested and charged him with embezzlement and forgery of official documents.

A spokesperson for the Cheongju District Prosecutors' Office stated that they have seized properties and assets, including apartments and vehicles, in an attempt to recover the funds. The prosecution indicated that they intend to file comprehensive charges to ensure that the defendant receives a punishment commensurate with his crimes.

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