The 11th Criminal Reconciliation Section of the Northern District Court in Seoul, South Korea, sentenced the chief financial officer (CFO) of a token development company to five years in prison for illegally transferring cryptocurrencies invested with business funds to his own private account, it was reported on March 7. , was convicted of breach of trust.
Between October 2018 and January 2019, he stole 21,245.99 cryptocurrencies, worth the equivalent of 3.75 billion won (approximately $3.0647 million) based on the sale date.
At the time, this amount was 53% of the total amount of cryptocurrency the company raised from investors.
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