South Korean Police Officers Face Trial in ‘Crypto Fraud Bribes’ Case
In a highly publicized crypto fraud case, two South Korean police officers are currently on trial for alleged bribery. The trial, which began on May 14 at the Gwangju District Court’s Criminal Division, involves a 59-year-old superintendent police officer known as “A” and a 57-year-old police lieutenant known as “B” from the same station, as reported by Namdo Ilbo newspaper.
The case revolves around a crypto fraudster named Tak, who is accused of orchestrating an art-themed altcoin scam. It is believed that Tak deceived multiple crypto enthusiasts and defrauded them of approximately $2.1 million in fiat and cryptocurrency. The police suspect that Tak operated a fraudulent Ethereum (ETH) and NFT-related project and persuaded several individuals to invest in a sham crypto company.
During the investigation into Tak, he hired a 62-year-old “broker” named Seong. Prosecutors claim that Seong paid the superintendent police officer over $7,300 in cash bribes on two occasions in order to secure a promotion for Officer B. The meetings between Seong and the superintendent took place at restaurants on February 4 and 15.
Both officers have been suspended from their positions for the duration of the trials. Officer B had previously appeared in court in January on separate bribery charges related to the same case. Seong, the broker, appears to have established a network of connections within the local police force, as well as the Gwangju and Mokpo prosecution services.
Tak has admitted to giving money to Seong in order to bribe prosecution officials and police officers to help clear his name. However, this plan quickly unraveled. Last month, a Mokpo prosecutor was sentenced to a year in jail for accepting a bribe from Seong. The same court found the prosecutor guilty of accepting money and favors in exchange for providing sensitive information about the case.
Seong has confessed to putting envelopes filled with cash into the coat pockets of both police officers while they were hanging on pegs in the restaurant. Officer A’s legal team has disputed these allegations, questioning why Seong would request a promotion in February when the police force typically finalizes its list of promotion candidates. The defense lawyers also challenged the accuracy of Seong’s account during cross-examination.
The court proceedings will continue on June 11, with more officers expected to face trial in the coming weeks and months. According to Namdo Ilbo, the prosecution has indicted a total of 18 individuals in connection with the case, including former and current prosecutors, police officials, and another broker.
