TechFlow reports that on March 12, according to Decrypt citing Yonhap News, a recent investigation by South Korea's Board of Audit and Inspection (BAI) revealed that a civil servant in Cheongju City embezzled 497 million won (approximately $342,000) in public funds for personal cryptocurrency investments and debt repayment. The official forged documents and stole the mayor's seal to open bank accounts, transferring the funds into personal accounts. The misappropriated money included disaster relief donations urgently needed after floods in July last year.
The civil servant, referred to as "Mr. A," was sentenced to five years in prison in December last year, and the case is currently under review by a higher court. According to the investigation, his corrupt activities spanned nearly six years (from November 2018 to May 2023). The audit report highlighted that the official was able to falsify project expenditures and approve electronic transactions without proper oversight. Cheongju City Hall has been ordered to dismiss the official and impose disciplinary actions on other相关人员 involved.
