Police Conduct Search and Seizure at Coin Company Over Alleged Political Lobbying Scandal

The police have launched an investigation into allegations that Uninetwork, the issuer of Purieover Coin, engaged in lobbying activities with political and government circles. Purieover Coin is known to have been the trigger for the kidnapping and murder case in Gangnam, Seoul.

Seoul Metropolitan Police Agency Mapo Office / Photo by Taewon Choi skking@

The Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency announced on the morning of the 10th that they conducted a search and seizure of the residence and office of CEO Lee of Uninetwork, who is suspected of bribery, and secured promotional and accounting-related records.

CEO Lee is suspected of handing over pre-issued coins to public officials and others in order to facilitate promotion when listing Purieover Coin on the cryptocurrency exchange Coinone in November 2020.

The police also searched the residences and other locations of individuals close to CEO Lee, including a former Ministry of the Interior and Safety official, on suspicion of receiving coins as bribes (such as bribery charges).

The police are investigating bribery suspicions based on the list of Uninetwork's "Fine Dust Management Committee." This list is known to include about 20 people, including current and former public officials and university professors.

CEO Lee is reported to be denying the charges.

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