South Korean Prosecutors, Police Face Bribery Wrap in Crypto Fraud Trial

Eight South Korean prosecutors and police officers could be trialed in connection to the high-profile case of a suspected crypto fraudster.

Per Newsis, the trial of one unnamed prosecutor has already begun in the city of Gwangju.

The case centers around a suspected crypto fraudster surnamed Tak. The prosecution service alleges that Tak hired a legal “broker” surnamed Seong.

And Seong allegedly attempted to pervert the course of justice by paying off officials including at least one (now former) police officer surnamed Jang.

The trial of the accused prosecutor, referred to as “A” by the South Korean media, began this week.

But six other officials could also face trial. In addition to A and Jang, the prosecution service indicted an unnamed group of public prosecutors and police officials on various bribery charges.

A was described as a 53-year-old level-six prosecutor who allegedly “provided” Seong and Tak with “legal advice.”

The court also heard that A “wrote and edited statements regarding the criminal case.”

Prosecution officials claim that Tak testified as a witness, and told the court that “Broker Seong” called him “on December 4, 2020” to summon him to a “dinner meeting” with A.

Tak later said that he met A “in the office of a church” with Seong, and explained:

“A told me that I needed to revise my statement to help resolve the case. A sat in front of a computer and asked me about the case, just as if I were being investigated. and I just answered A’s questions. A then organized the questions and answers into an […] official-looking document.”

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— Cryptonews.com (@cryptonews) January 29, 2024

South Korean Prosecution Officials, Police Officers Embroiled in Crypto Fraud Case?

Tak also alleged that Seong had asked him to hand over “around [$15 million]” for use in bribing “investigators.”

Furthermore, Tak claimed that Seong had also used his contacts to tip Tak off about a forthcoming police raid.

The court heard that A was not assigned to Tak’s case. And A’s legal team denied the charges, claiming there was no proof A received any money from Tak or Seong. A told the court:

“I received no money, goods, or anything else [from Seong or Tak].”

Seong is being tried separately on charges of attempting to obstruct a police investigation. Prosecutors said Seong had received goods or money from Tak on “22 occasions.”

Tak, aged 44, is accused of “defrauding” 13 “victims” out of around $2.1 million. Prosecutors also think Tak “stole $318,000” from investors who funded the alleged fraudster’s attempts to “buy a [crypto] trading firm.”

Earlier this month, a court in Changown sent an individual who gave a fake crypto exchange illegal bank documents to jail for four years.