South Korea's Supreme Court upholds February's decision to sentence QRC Bank CEO to 10 years in prison
The South Korean Supreme Court sentenced a cryptocurrency fraudster who scammed $153 million to 10 years in prison, upholding the ruling from February. On February 9th, Jinse Finance reported that the Seoul Central District Court sentenced the CEO of QRC Bank in Korea, Gao, to 10 years in prison for fraud and other charges in the first trial. Two other collaborators of QRC Bank were also sentenced to 5 years and 3 years in prison respectively. Under the double punishment rule, QRCBank Corporation, QRC Korea, and World ChainCo, Ltd. were fined 10 million won and handed over for trial.
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