The Daegu District Attorney’s Office, which is investigating fraud related to cryptocurrencies, has raided Woori Bank, which it believes is linked to the investigation.
Seoul-based Woori Bank drew attention especially with its large foreign exchange transfers. South Korean local news agency Yonhap released a statement today. The published statement included that the Daegu District Attorney’s Office raided a bank through the lawyers it had appointed to fight corruption. A search and seizure request was made to the Woori Bank headquarters due to corruption.
South Korean Prosecutors Investigating Bank Manager
Noting that it is investigating Woori Bank employees, the Prosecutor’s Office also underlined that it is investigating someone who is alleged to be corrupt. The following sentences are included in the prosecutor’s report:
“Prosecutors previously found that the defendants under investigation ran several fictitious companies and traded cryptocurrencies without reporting them. The defendants had offered fake institutions to the bank to transfer 400 billion won of foreign currency.”
The report revealed that the person under investigation was the branch manager of Woori Bank. During his tenure as branch manager, it was stated that he transferred crypto to fake companies he created.
According to Finbold’s report, there was a case of fraud in South Korea recently. A team of three reportedly traded crypto without the necessary permissions and submitted fake financial data to the bank. The Prosecutor’s Office, which aims to solve this case with the raid carried out today, is conducting two different investigations in parallel.
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