The South Korean live streaming host was sentenced to a heavy sentence for crypto asset fraud. The Eastern District Court in Seoul sentenced Xu to 15 years in prison on the 30th. Xu was accused of recommending to victims to invest in crypto assets (tokens) issued by his company or related businesses, and misappropriating the investment funds.
In addition, Seo is also accused of embezzling more than 11 billion won (about $8.23 million) and using company account funds to buy virtual gifts on AfreecaTV. The court found that Seo had no intention of fulfilling his promise from the beginning and used the investment money to pay off personal debts.
South Korean live streaming host sentenced to 15 years in prison for crypto fraud
2024-08-30 06:25:41
South Korea network live streaming host crypto asset fraud heavy sentence east of Seoul placedesk3cryptocurrencydesktopCrypto News
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