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Two senior South Korean police officers have been indicted for allegedly accepting bribes from operators of an illegal cryptocurrency exchange involved in a $186 million money-laundering scheme. The officers, identified as a former Seoul police station chief ("F") and a senior officer ("G"), are accused of receiving cash and luxury goods in exchange for providing sensitive investigative information and facilitating the unfreezing of accounts linked to the illicit operation
*Allegations Against the Officers:*
F_ received around $59,000 in bribes between July 2022 and February 2024
G_ accepted approximately $7,500 in cash and luxury goods during the same period
-They provided internal investigative details, introduced lawyers, and helped unfreeze accounts tied to the laundering activity
*The Money-Laundering Scheme:*
- The illicit network laundered over $186 million (249.6 billion won) through cash-for-crypto exchanges disguised as gift shops in Seoul
- The scheme primarily involved voice phishing scams, with proceeds converted into stablecoins like USDT
- Authorities have frozen around $1.1 million in assets, including $600,000 in USDT
*Investigation and Fallout:*
- The case emerged from a re-examination of a voice phishing case, exposing inconsistencies in an earlier decision not to indict
- Five other individuals, including crypto company executives, have been indicted for offering bribes and coordinating laundering operations
- The officers have been removed from their positions and face charges under South Korea's anti-corruption and financial crime laws
Here are some hashtags:
#CryptoLaundering
#SouthKorea
#PoliceCorruption
#MoneyLaundering
#CryptocurrencyCrime
$BNB
$BTC
$BNB
*Allegations Against the Officers:*
F_ received around $59,000 in bribes between July 2022 and February 2024
G_ accepted approximately $7,500 in cash and luxury goods during the same period
-They provided internal investigative details, introduced lawyers, and helped unfreeze accounts tied to the laundering activity
*The Money-Laundering Scheme:*
- The illicit network laundered over $186 million (249.6 billion won) through cash-for-crypto exchanges disguised as gift shops in Seoul
- The scheme primarily involved voice phishing scams, with proceeds converted into stablecoins like USDT
- Authorities have frozen around $1.1 million in assets, including $600,000 in USDT
*Investigation and Fallout:*
- The case emerged from a re-examination of a voice phishing case, exposing inconsistencies in an earlier decision not to indict
- Five other individuals, including crypto company executives, have been indicted for offering bribes and coordinating laundering operations
- The officers have been removed from their positions and face charges under South Korea's anti-corruption and financial crime laws
Here are some hashtags:
#CryptoLaundering
#SouthKorea
#PoliceCorruption
#MoneyLaundering
#CryptocurrencyCrime
$BNB
$BTC
$BNB
🚨 😱Breaking News: Italian Crypto Trader Kidnapped and Tortured in NYC❗❗
Michael Valentino Teofrasto Carturan, a 28-year-old Italian crypto trader, was kidnapped and tortured in SoHo for nearly three weeks in an extortion attempt to steal his Bitcoin password. Shocking new details reveal two NYPD detectives — one a bodyguard for Mayor Eric Adams — are among the suspects. The mayor's office has suspended the officers and expressed being "deeply disturbed" by the case. Carturan escaped bloodied and barefoot, exposing the brutal ordeal.
#CryptoCrime #NYCKidnapping #PoliceCorruption #BreakingNews #CEXvsDEX101
Michael Valentino Teofrasto Carturan, a 28-year-old Italian crypto trader, was kidnapped and tortured in SoHo for nearly three weeks in an extortion attempt to steal his Bitcoin password. Shocking new details reveal two NYPD detectives — one a bodyguard for Mayor Eric Adams — are among the suspects. The mayor's office has suspended the officers and expressed being "deeply disturbed" by the case. Carturan escaped bloodied and barefoot, exposing the brutal ordeal.
#CryptoCrime #NYCKidnapping #PoliceCorruption #BreakingNews #CEXvsDEX101
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