Two Arrested Including CEO of FurEver Coin Issuer on 'Market Manipulation Suspicion'
The prosecution investigating allegations of price manipulation of the 'Purever' coin, which triggered the Gangnam kidnapping and murder case last March, has arrested two individuals, including the CEO of the issuing company.
On the 8th, the Seoul Southern District Prosecutors' Office's Joint Investigation Team on Virtual Asset Crimes (Head Lee Jeong-ryeol) announced that it had arrested two people, including Lee (59), the CEO of Uninetwork, the issuer of Purever coin, on charges of fraud the previous day. Purever is a coin related to air purifiers that gained attention as it was the starting point of the Gangnam kidnapping and murder case last March.
According to the prosecution, CEO Lee and others are suspected of manipulating the price of Purever, which was issued under the pretext of promoting a fine dust reduction project. The prosecution filed an arrest warrant on the 3rd and obtained approval for it the day before.
In the interim investigation results announced in April regarding coin exchange listing corruption and coin market manipulation, the prosecution stated about Purever, "Despite the issuing foundation's poor financial condition, it was exclusively listed on the exchange, and immediately after listing, many investors suffered losses due to high-price sales through price manipulation."
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The prosecution is also investigating the case of bribery related to Purever's listing request. CEO Lee is accused of offering coins to public officials and others along with a request for promotional convenience when listing Purever on the cryptocurrency exchange Coinone in November 2020 (charges of bribery and violation of the Improper Solicitation and Graft Act). Former Ministry of the Interior and Safety official Park, who was in charge of fine dust-related work, and Jung, chairman of the Korea BCP Association, an organization for disaster safety education and certification, were also handed over to the prosecution.
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