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Head of Financial Department of South Korea's National Health Insurance Corporation Embezzles 4.6 Billion Korean Won, Nearly Wipes Out Funds in Crypto Contract Trading
Summary: According to reports from SBS, the head of the financial department of South Korea's National Health Insurance Corporation embezzled 4.6 billion Korean Won and nearly wiped out the funds due to involvement in crypto contract trading. The South Korean prosecutors stated that the supervisor with the surname Choi, in his capacity as the head of ...
According to reports from SBS, the head of the financial department of South Korea's National Health Insurance Corporation embezzled 4.6 billion Korean Won and nearly wiped out the funds due to involvement in crypto contract trading.
The South Korean prosecutors stated that the supervisor with the surname Choi, in his capacity as the head of the financial management team, embezzled up to 4.6 billion Korean Won through 18 system operations from April to September 2022 before fleeing overseas. Choi was found splurging at a luxurious resort in the Philippines and was finally arrested in Manila in January 2024.
The National Health Insurance Corporation recovered 720 million Korean Won through civil litigation, but the remaining 3.9 billion Korean Won was lost in the crypto contract market by Choi, rendering traditional recovery mechanisms ineffective. Choi was sentenced to 15 years in prison for embezzlement and other serious crimes, with the judges in the first and second trials maintaining the original verdict on the 15th. (BlockTempo)
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Link: Head of Financial Department of South Korea's National Health Insurance Corporation Embezzles 4.6 Billion Korean Won, Nearly Wipes Out Funds in Crypto Contract Trading [Copy]
