South Korean court sentences person responsible for virtual asset fraud scheme to 5 years in prison
The Seoul District Court sentenced Park Byung-gon, the main person responsible for Ado International's investment recruitment plan, to five years in prison. Park Byung-gon was accused of carrying out a 400 billion won (approximately $294 million) fraud scheme through virtual assets.
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However, mining facility operators must report client details to tax authorities or face fines of 40,000 rubles ($371).