South Korean Teacher Steals $50K From Students

Scams On The Rise

Crypto-related crimes have been on the rise in Jeju, South Korea, including the murder of an OTC (Over The Counter) crypto trader in February.

Source: Bloomberg

The teacher, in their 30s and unnamed, stole $54,500 while also engaging in a fraudulent online scam that totaled $4,770. The instructor also took money from students claiming they would resolve their financial problems but never returned the funds.

Appeal Dismissed

The Jeju District Court dismissed the teacher’s appeal, noting that their remorse had already been considered in a previous ruling.

Additionally, the defense argued that the teacher had already repaid part of the stolen money, but the court stated this had been factored into the original decision.