A South Korean court has sentenced a former senior police officer to prison after he accepted bribes from criminal suspects while pretending he could influence an ongoing crypto fraud investigation.
On the 3rd of March, the 1st Criminal Division of the Uijeongbu District Court at its Goyang Branch handed down the ruling. The court sentenced a former officer, who the local news outlet identified as A and who is in his 40s, to six years in prison and ordered him to pay a fine of 100 million won.
Source: chosun.com
According to the court, A violated the Act on the Aggravated Punishment of Specific Crimes and also has charges on bribery. The judges said he received a total of 120 million Won from suspects between December 2023 and March 2024. The bribes included 50 million Won in cash and another 70 million Won in entertainment expenses.
Also Read: UK Treats Crypto Fraud As National Security Threat, Seizes $6 Billion in Assets
At the time when the bribery was going on, A was serving at the Seoul Metropolitan Police Agency. He was responsible for investigating major major economic crime cases, including crypto fraud cases. This placed him in a powerful position, as he was in charge of controlling sensitive investigations that could determine whether suspects were charged or cleared.
The court has strongly criticized his behavior. Judges said he treated his authority as personal power and enjoyed luxury entertainment without feeling guilt, even while meeting with people who were under active investigation.
Bribes Linked to Crypto Fraud Investigation
One of the most serious parts of the case involved a coin consignment sales fraud investigation. During A’s time in power, he handled this case when members of the criminal organization approached him. They were introduced to him through B, an office manager at a law firm.
Through this connection, the suspects reportedly offered cash and expensive entertainment in exchange for covering up the investigation. Prosecutors said the payments were meant to help stop or weaken the investigations into their crypto fraud activities.
Person B, who helped connect the suspects to the officer, was also sentenced. The court gave B a prison term of two years and six months, suspended for four years, along with a fine of 50 million Won.
Also Read: FATF Says Stablecoin P2P Transfers Pose Sanctions Evasion Risk
