Prosecutors Investigating Ex-South Korean President Yoon Quiz ‘Crypto Fraudster’

South Korean prosecutors probing the former President Yoon Suk-yeol and the former First Lady Kim Keon-hee have interrogated the suspected crypto fraudster Jon Bur Kim (real surname Park).

Park, a crypto market maker and luxury sports car collector, has been indicted for crypto fraud. Prosecutors think he issued and manipulated two so-called “scam coins,” and manipulated their prices by issuing fake news about the tokens.

However, prosecutors earlier this month established a possible link between Park’s case and that of the former First Lady.

Kim Keon-hee is accused of peddling influence, stock manipulation, and other corruption-related charges.

Former President Yoon: Arrest Warrant Incoming?

Prosecutors are investigating Kim Keon-hee along with Yoon, who failed in a bid to declare martial law in South Korea in early December last year.

The former President was later impeached. He has since been charged with various corruption-related offences.

But Former President Yoon has twice refused to respond to court summons requests. This has led prosecution officials to consider requesting an arrest warrant.

Yonhap reported that the probe has also expanded to Yoon and Kim’s associates. The South Korean news agency wrote that the special prosecution team is believed to be investigating the former senior prosecutor Kim Sang-min.

Prosecutors believe Kim Sang-min may have “received illicit money” from the chief suspect in a crypto fraud case.

Media outlets assume that this is Park, who is accused of embezzling 80.9 billion won ($58.1 million) worth of investors’ money.

Prosecutors think that Park gave Kim Sang-min money to pay for motor vehicle rental fees. Kim Sang-min then allegedly used this money to pay for the vehicles as he attempted to win the People Power Party nomination for the Changwon Uichang district seat ahead of the April 10 legislative election last year.

Kim Sang-min was ultimately unsuccessful in his bid, and was eliminated during the primaries. But prosecution officials appear to think that Kim Keon-hee used her influence to help him run.

Rug Pull Suspect Summoned

The latest development appears to confirm reports from earlier this month. These claimed that the special prosecution team had asked to see the Park/scam coin case files.

Prosecutors think that Park and a CEO surnamed Moon stole hundreds of billions of won. They think the duo issued and listed a suspected scam coin named Atube in 2021.

They have also accused Park of masterminding a rug pull scam for a token named Podo Coin, also in 2021.