The top manager of the South Korean crypto-tank V Global received eight years in prison – Bits Media

The Court of the Republic of Korea found guilty of the fraud of one of the high -ranking leaders of the cryptocurrency exchange V Global, who deceived more 50 000 investors totaling $1.7 billion.

Top manager named Yang-the name is not disclosed-he will have to leave eight -year term. His Unsenced Colleague received three years.

Previously, another trial was held, in which a person by the name of Lee participated - he is called the general director of the company. He received 25 years of imprisonment. Five more other people received the deadlines, associated with crypto -rises.

The investigation lasted almost two years. Investigators say, that the V Global trading platform was practically not distinguished from a real cryptocurrency exchange, However, in fact, the sign was used for a multi -level financial pyramid. Clients were offered to invite new participants in exchange for monetary reward.

The attention of investigators attracted the complaints of investors, who complained, that they cannot withdraw their tokens from the exchange, And the promised 300% The profit smells of a trick. Soon after the start of the investigation, the company's management began to destroy evidence and interfere with the movement of the case.

Previously reported, that the authorities of South Korea four times increased
Spending tools to survive crypto actors - funds mainly went to the South Korean police and the prosecutor's office.