South Korean prosecutors seek 20-year sentence in $247 million crypto fraud case

  • South Korean prosecutors sought 20 years for Park in the "Jonber Kim" fraud case.
  • 340 billion won ($247 million) was allegedly involved in the PODO Coin and ATube scheme.
  • Sentencing for four defendants is scheduled for 6:00 a.m. UTC on Oct. 15.

South Korean prosecutors have sought a 20-year prison term and about 18.8 billion won ($13.7 million) in forfeiture for a man surnamed Park, known as "Jonber Kim." Park was indicted over alleged fraud involving PODO Coin (POD) and ATube (ATT) in a scheme valued at 340 billion won ($247 million), Digital Asset reported exclusively. The request was made Aug. 21 during the closing hearing before the 13th Criminal Division of the Seoul Southern District Court. Sentencing for Park and three other defendants is scheduled for 6:00 a.m. UTC on Oct. 15.

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