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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] The prosecution has sentenced Kim Mo, the son of Hancom Group chairman Kim Sang-chul, to nine years in prison for allegedly embezzling over 9 billion won through investments in virtual assets made by a subsidiary of Hancom Group and using them for personal purposes.
On the 23rd, during the sentencing trial for embezzlement under the Specific Economic Crimes Punishment Act held at the Suwon District Court's Seongnam Branch, the prosecution requested a nine-year prison sentence and a fine of over 960 million won for Kim, who is 35 years old.
Jung, the CEO of Arowana Tech, a virtual currency operator invested by a Hancom subsidiary, was also sentenced to six years in prison on the same charges.
Kim and Jung are accused of soliciting the sale of 14,571,000 Arowana tokens to domestic virtual asset consulting companies between December 2021 and June 2022, receiving Ethereum and Bitcoin worth 8.03 billion won into Kim's personal electronic wallet from the proceeds. They are also accused of requesting the operation and sale of 4 million Arowana tokens to overseas virtual asset-related businesses in March 2022 and receiving virtual currency profits of 1.57 billion won into Kim's personal electronic wallet.
The prosecution believes that Kim's embezzlement amounted to approximately 96 billion won, which he allegedly used for personal activities such as purchasing NFTs, buying stocks, paying credit card bills, and purchasing items from department stores.
Despite having the responsibility to properly operate and manage Arowana tokens, the prosecution judged that they committed the crime by ignoring their duties.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
