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South Korean Lee Hee-jin Faces New Charges Involving $19.27 Million in Pica Coin Fraud Case
Summary: According to News1, Lee Hee-jin, known as the 'Stock God of Cheongdam-dong,' is facing new accusations of virtual asset fraud, with the case being transferred from the Seoul Gangnam Police Station to the Seoul Metropolitan Police Department's Financial Crime Investigation Team. Lee was previously sued by his partner, a representative of Pica Coin issuing company, ...
According to News1, Lee Hee-jin, known as the 'Stock God of Cheongdam-dong,' is facing new accusations of virtual asset fraud, with the case being transferred from the Seoul Gangnam Police Station to the Seoul Metropolitan Police Department's Financial Crime Investigation Team. Lee was previously sued by his partner, a representative of Pica Coin issuing company, for allegedly failing to pay the agreed settlement amount of approximately 18.8 billion Korean won, with additional claims now totaling 28 billion Korean won (about $19.27 million). The two had signed a contract in 2020 to jointly develop tokens for fractional investment in art pieces, but Lee is accused of not adhering to the agreed profit distribution ratio. Previously, Lee had faced separate trials for allegedly defrauding 9 billion Korean won (approximately $61.95 million) through false advertising and market manipulation of Pica Coin and two other tokens. He was arrested in October 2023 and granted bail in March 2024.
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Link: South Korean Lee Hee-jin Faces New Charges Involving $19.27 Million in Pica Coin Fraud Case [Copy]
