TechFlow news, January 8 — According to News1, the virtual asset fraud case involving Lee Hee-jin (phonetic), known as the "stock market genius of Cheongdam-dong," has been transferred from the Seoul Gangnam Police Station to the Seoul Metropolitan Police Agency's Financial Crime Investigation Unit. Lee was previously sued by her business partner, the representative of Pica Coin's issuing company, who accused her of failing to pay approximately 18.8 billion KRW in settlement fees. The plaintiff later amended the lawsuit, raising the claimed damages to 28 billion KRW (approximately 19.27 million USD). The two had signed an agreement in 2020 to jointly develop a token for fractional investment in artworks, but Lee is alleged to have violated the agreed profit-sharing ratio. Previously, Lee faced separate criminal proceedings on charges of allegedly conducting a 90 billion KRW (approximately 61.95 million USD) fraud scheme through false advertising and market manipulation involving Pica Coin and two other tokens. She was arrested in October 2023 and granted bail in March 2024.
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