A federal jury in Alexandria convicted Jihoon Park, 52, on Sept. 8 of three wire fraud counts and two bankruptcy fraud counts. Prosecutors said Park, of Chantilly, Virginia, took more than $2.5 million from investors who entrusted him with savings and retirement funds, using the money to buy a house and cryptocurrency. After a victim sued, Park allegedly moved assets to his wife and concealed millions of dollars in cryptocurrency before seeking bankruptcy protection. His filings listed just $0.34 in financial assets and denied cryptocurrency ownership. Court records detail a $300,000 investment check, a roughly $1.2 million Chantilly house purchase and a $700,000 down payment that included the investor's money. Park's Chapter 7 case began in January 2025 in the Eastern District of Virginia, where a trustee sought to recover the down payment. Chief U.S. Bankruptcy Judge Brian F. Kenney rejected the investor's claim to an interest in the property, and Park waived his bankruptcy discharge. He is scheduled to be sentenced on Dec. 10, 2026. Each wire fraud count carries a maximum sentence of 20 years, while each bankruptcy fraud count carries a maximum of five years.