A South Korean courtroom has jailed a instructor who stole cash from college students and their dad and mom to “squander” on crypto purchases.
Per the South Korean media shops Jeju Sori and Newsis, the a department of the Jeju District Court docket, on the island province of Jeju, rejected an enchantment from the instructor – unnamed and aged of their 30s.
South Korean Instructor Jailed for Two Years
The courtroom ordered the instructor to serve two years in jail, after listening to that they had stolen 80 million gained ($54,500) and spent many of the cash on unnamed cryptoassets.
The courtroom heard that the instructor “embezzled” the cash from college students and their dad and mom, in addition to “fraudulently promoting second-hand items” in an “on-line rip-off” price roughly 7 million gained ($4,770).
The courtroom dismissed the defendant’s enchantment, noting that the choose within the instructor’s earlier trial had already “taken the defendant’s regret into consideration.”
The instructor’s authorized group had additionally argued that the defendant had “paid again” a part of the cash stolen from the scholars.
However the appellate courtroom stated there was “no cause to take this into consideration in sentencing,” as the unique courtroom verdict, in November final yr, had already finished so.
South Korea’s Constitutional Court docket is now set to rule Monday on whether or not to uphold Prime Minister Han Duck-soo’s impeachment movement, whereas they proceed to deliberate on President Yoon Suk Yeol’s case https://t.co/Vvz5nfVIr9
— Bloomberg Politics (@bpolitics) March 20, 2025
Crypto Crime: On the Rise in Jeju?
The courtroom heard that the defendant labored as a instructor at a highschool in Jeju, the place they started stealing cash in March final yr.
The prosecution defined that the instructor had found that a few of their college students had “monetary issues.”
The instructor then deceived the scholars by saying that they’d resolve these issues, taking funds from college students and their dad and mom alike.
South Korea’s monetary regulator is about to introduce crypto funding pointers for establishments, charities, and public companies by Q3 2025.#SouthKorea #CryptoInvestmentshttps://t.co/lyA9mweAK6
— Cryptonews.com (@cryptonews) March 12, 2025
Nonetheless, the defendant later did not return the cash that they had acquired, the courtroom heard.
The courtroom additional heard that the instructor additionally borrowed about $4,000 from “acquaintances and different individuals.”
The instructor additionally did not pay again these loans, the prosecution added. The courtroom additionally heard that the instructor spent “many of the proceeds of their crimes” on crypto investments.
Crypto-related crimes have dominated information headlines in Jeju this yr. Of specific notice is the ugly suspected homicide of an over-the-counter (OTC) crypto dealer, who was discovered stabbed to loss of life in a luxurious lodge room in Jeju in late February.
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