A Korea Youli Bank employee was arrested for embezzlement, spending about 15 billion won on purchasing virtual assets.

On July 8th, a Yoori Bank employee in South Korea was arrested and charged with embezzling 18 billion won (about 13 million US dollars) of public funds, of which about 15 billion won (about 10.84 million US dollars) was spent on purchasing virtual assets. The employee forged loan documents in the name of 17 clients, including personal and corporate entities, 35 times from July of last year to May of last year, applying for false loans and then transferring the loan amount to a familiar account, totaling approximately 17.77 billion Korean won. The prosecutor’s office confiscated 180 million Korean won from the employee’s residence and froze virtual asset exchange deposits, bank deposits, and lease deposits totaling approximately 4.5 billion Korean won through confiscation preservation and collection preservation.