Korean police have transferred the case of Lee Hee-jin, known as the "Cheongdam-dong Stock God," to the Seoul Metropolitan Police Agency's Financial Crimes Investigation Unit. Lee is accused of violating the Act on the Aggravated Punishment of Specific Economic Crimes in connection with a virtual asset fraud case. The case stems from a settlement dispute with a representative of PikaCoin, who claims Lee failed to pay approximately 18.8 billion won. Lee, previously sentenced to three years and six months in prison for illegal stock trading in 2020, was arrested in October 2023 for allegedly orchestrating a 900 billion won fraud involving the issuance and manipulation of three tokens, including PikaCoin. He was released on bail in March 2025 and remains under investigation without detention.
Korean Police Transfer 'Cheongdam-dong Stock God' Crypto Fraud Case
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