A South Korean professor sentenced to prison for crypto scam

A professor and former advisor to Moon Jae-in’s 2017 sentenced to jail on the accusation of crypto token promotion and fraud.

A person from Korea, who is a professor and also a Former South Korea presidential advisor Moon Jae-in’s 2017 electoral campaign, sentenced to prison on charges of crypto fraud.

Reportedly, the professor promoted a crypto coin in 2017. The name of the coin is Coal Coin. The professor claimed that Coal coin is better Coin and has huge futures & it’s price will increase by 100 times easily. 

And also the professor claimed that the coin is certified by The Bank of Korea, Financial Supervisory Service (FSS), and the Fair Trade Committee. But In the Investigation, it was found that all the claims made by the professor during the promotion were fake.

Around 5000 people in Korea get into this scam. Most of the people claimed that they got into trust with the coin because they had full belief in the experience & position of the professor, so they Invested in the coin in huge amounts. And that resulted in a scam of $18 million. 

The Seoul Central District Court found the professor guilty but still the professor claimed that he never suggested anyone invest in any coin and also in the seminar he only talked about the crypto related thoughts & point of view from the point of education purpose. 

But the court ignored all the favourable claims made by the professor. The name & details of the professor is not known at this time and also all the charges against this person are still not known. 

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