Bosses of the fraudulent South Korean crypto tours V Global detained

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The South Korean authorities seem to have intensified their control over the area of ​​digital assets. Two high-ranking managers named Mr. Yang and Mr. Oh were sentenced to eight or three years from the fraudulent crypto exchange V Global for their role in fraud.

According to reports, V Global investors lured with the promise of a return of 300 %. The stock exchange, which was operated between July 2020 and April 2021, required new users to set up accounts and the deposit of around 6 million Korean We with an allegedly guaranteed return of 18 million Won.

The gadgets of V Global

During its one -year existence, V Global managed to attract almost 50,000 investors by promising 12 million in a commission that resembles a pyramid system. Some managers were caught, while most employees were initiated against the law on the law to regulate the similar admission law, fraud and violation of the law on door -to -door shops.

According to a local report, the judge of the 12th criminal chamber of the Suwon district court was cited.

"The defendants only trusted the management team of V Global, withdrawn responsibility, and when the investigation began, they destroyed evidence and mixed up in the investigation. The accused themselves recognized and reflected on the facts, and many of the victims have reinvested the proceeds from their existing investments, so that the actual damage was lower than the statutory -covered Sum. “

The victims

The estimated number of victims is somewhere near 52,000. The Daegun law firm, which V Global Investment represents, previously announced that most victims were middle -aged people or seniors who sought a “stable life after retirement”. At least one victim died of suicide after it had been cheated.

The prosecutors had said

"Most victims were middle -aged people or seniors who dreamed of a stable life after retirement."

According to the Elder Ms. Report 2021 of the FBI, seniors over 60 last year lost over $ 1.7 billion through fraud. This was an increase of 74 % compared to 2020. In the meantime, this cohort of people lost $ 239 million in 2021 alone, including frauds to quickly become rich, which dealt with digital assets or cryptocurrencies.

seniors are also targeted by crypto fraudsters because of their lower knowledge of matter.

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