{"id":47049,"date":"2023-11-13T00:58:22","date_gmt":"2023-11-13T00:58:22","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/crypto\/crypto-fraudster-joined-south-korean-state-visit-to-saudi\/"},"modified":"2023-11-13T00:58:23","modified_gmt":"2023-11-13T00:58:23","slug":"crypto-fraudster-joined-south-korean-state-visit-to-saudi","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=47049","title":{"rendered":"\u2018Crypto Fraudster\u2019 Joined South Korean State Visit to Saudi"},"content":{"rendered":"<div>\n<figure id=\"attachment_130141\" aria-describedby=\"caption-attachment-130141\" style=\"width: 1500px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-130141\" class=\"wp-caption-text\">Source: Maksym Kapliuk\/Adobe<\/figcaption><\/figure>\n<p>A suspected crypto fraudster accompanied South Korean President Yoon Seok-yeol on a state visit to Saudi Arabia last month.<\/p>\n<p>Per iNews24, media outlets in the country have discovered that the head of an unnamed crypto firm made up part of an \u201ceconomic delegation\u201d that traveled with Yoon in late October.<\/p>\n<p>Yoon discussed cooperation between the two nations, and was accompanied by a group of businesspeople reportedly selected by the Federation of Korean Industries (FKI).<\/p>\n<figure id=\"attachment_130142\" aria-describedby=\"caption-attachment-130142\" style=\"width: 948px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-130142\" class=\"wp-caption-text\">The South Korean President Yoon Seok-yeol and other officials on a state visit to Saudi Arabia in October. (Source: Yoon Seok-yeol\/YouTube)<\/figcaption><\/figure>\n<p>But the crypto firm chief, referred to as \u201cA\u201d by the South Korean press\u201d is \u201ccurrently being investigated by prosecutors on fraud charges.\u201d<\/p>\n<p>Upon A\u2019s return from the visit, the crypto firm chief posted in a crypto-related chat room, reportedly writing:<\/p>\n<blockquote>\n<p>\u201cIt looks like good news related to Saudi Arabia is on its way. Please be patient.\u201d<\/p>\n<\/blockquote>\n<h2>Did Suspected Crypto Fraudster Join South Korean President\u2019s MBS Meeting?<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>The broadcaster SBS published details of an alleged text message conversation where A appears to have suggested they would be attending a meeting with \u201cMBS.\u201d<\/p>\n<p>MBS, full name Mohammed bin Salman, is the Crown Prince and Prime Minister of Saudi Arabia.<\/p>\n<p>KFI claimed that it had failed to \u201cdiscover\u201d that A was under investigation during the selection process as the crypto chief had applied under the name of another company.<\/p>\n<p>But the federation said it would \u201cstrengthen\u201d its \u201cverification process\u201d in \u201cthe future.\u201d<\/p>\n<p>A appears to have won a place on the \u201ceconomic mission\u201d by applying in the name of another of their companies.<\/p>\n<p>A spokesperson for the crypto company said that it was unable to \u201cdisclose detailed information\u201d about the reports.<\/p>\n<p>But the firm disputed the veracity of the reports and claimed that some details were \u201cuntrue.\u201d<\/p>\n<p>However, opposition leaders complained that the revelations constituted a \u201cdisgrace to South Korea.\u201d<\/p>\n<p>A Democratic Party spokesperson stated:<\/p>\n<blockquote>\n<p>\u201cPresident Yoon Seok-yeol\u2019s trip to the Middle East, with the head of a company under investigation for [crypto] fraud is a disgrace to the country and has brought about a loss of national prestige. The company courted investors by saying it would meet the Crown Prince of Saudi Arabia. [The trip was] used to promote fraud.\u201d<\/p>\n<\/blockquote>\n<p>Media outlets noted that A has never been convicted of fraud, but has faced controversy in the crypto world prior to the most recent probe.<\/p>\n<p>A group of alleged victims filed a civil case against A, but withdrew their lawsuit after the crypto chief reportedly \u201creimbursed them for their losses.\u201d<\/p>\n<p>South Korean police and prosecutors have had a busy start to the month.<\/p>\n<p>Investigators made 25 arrests in a swoop in the city of Daegu, and also shut down an alleged \u201cinternational crypto fraud ring.\u201d<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/suspected-crypto-fraudster-joined-south-korean-presidents-state-visit-to-saudi.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Maksym Kapliuk\/Adobe A suspected crypto fraudster accompanied South Korean President Yoon Seok-yeol on a state visit to Saudi Arabia last month. Per iNews24, media outlets in the country have discovered that the head of an unnamed crypto firm made up part of an \u201ceconomic delegation\u201d that traveled with Yoon in late October. Yoon discussed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":47050,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[35],"tags":[],"class_list":{"0":"post-47049","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u2018Crypto Fraudster\u2019 Joined South Korean State Visit to Saudi | Prosfunds<\/title>\n<meta name=\"description\" content=\"Source: Maksym Kapliuk\/Adobe A suspected crypto fraudster accompanied South Korean President Yoon Seok-yeol on a state visit to Saudi Arabia last month.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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