Prosecutors arrest and indict a developer in his 30s behind a fraudulent crypto staking site
Prosecutors arrest and indict a developer in his 30s behind a fraudulent crypto staking site
Prosecutors have requested supplementary investigations into a case initially forwarded by police as aiding and abetting fraud, applying charges as a co-perpetrator of fraud.
The Criminal Division 3 of the Seoul Northern District Prosecutors’ Office, led by Chief Prosecutor Park In-woo, announced on the 9th that it had indicted a 34-year-old man, identified as A, on charges including fraud for developing a virtual asset scam site and extorting 800 million won from victims. While police initially referred the case treating him as an accessory, additional investigations conducted at the prosecution’s request led to the application of charges as a co-offender who directly committed the fraud.
According to prosecutors, A is accused of creating a fraudulent virtual asset staking product website around March last year and defrauding victims of 800 million won, in violation of the Act on the Aggravated Punishment of Specific Economic Crimes and the Information and Communications Network Act.
Police had initially forwarded the site developer without detention on charges of aiding and abetting fraud, but prosecutors concluded that the site’s structure would be difficult to create without knowledge of the criminal scheme, determining that he should be punished as a joint principal offender.
Accordingly, prosecutors requested supplementary investigations from police, secured expert evaluations to substantiate the additional charges against A, and directly participated in the pre-arrest warrant hearing, ultimately obtaining an arrest warrant.
Even after the case was referred, prosecutors conducted further supplementary investigations into technical aspects, provided additional substantiation of the charges, and sent the case to trial.
A prosecution official stated that they will continue to work closely with police to do their utmost to uncover the substantive truth.
Disclaimer: This article is a translated summary for informational purposes only and does not constitute legal advice or an official statement.
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