South Korean “King of Coin” re-arrested by 47 million crypt’s scams

The South Korean Art Park, known as “Jonbur Kim” or “King of Coin” was again arrested at fresh charges of fraud.

Comes to this arrest Only weeks After releasing a deposit for a special case of a crypto fraud. The Southern District Court brought an arrest warrant to the Park 20. February, referring to the risks for unauthorized and flying evidence, in accordance with KBS News.

Prosecutors claim that between March 2021. and April 2022. the Park and his accomplice, Mr. Moon, orchestrated the false issuance and the list of artube tokens.

They allegedly Manipulated prices and used the wrong disclosures for the deflection of an investor of 68 billion was obtained ($ 47 million). The month was also arrested at the same charges.

Background of fraud

The park has already faced the trial for Previous Case Prevala Cripto The inclusion of the floor coin, in which the 20 billion victories ($ 14 million) was allegedly. It was disclosed in January, which allows it to be tried without detention.

However, prosecutors have discovered additional false activities related to artes, which led to his re-arrest.

Authorities have a long examination of the arid manipulation park and illegal financial activities in the crypton space. His presence of social media – where he was full of luxury cars and top items – helped him get the following as crypto influence.

The investigations were discovered that allegedly bribed exchanges to facilitate the token lists and manipulated prices for personal image.

The park previously tried to escape in the country in December 2023. Boarding a fishing ship related to China. The storm forced the vessel to return, which leads to his capture. He was sentenced to prison for violating the law of smuggling, but later the sentence decreased to the appeal.