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New evidence reveals extent of South Korean official’s crypto investment fraud

The South Korean official misappropriated 342,000 USD (497.16 million Korean won), diverting crucial flood recovery funds for personal crypto investments.

As of December 2024, the unnamed official, dubbed Person A, is imprisoned for five years, with the case under review by the High Court, possibly affecting the original ruling.

Investigations revealed that the official forged documents and misused seals over six years, exposing serious transparency issues within South Korean public office.

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