A South Korean official was sentenced to five years in prison for embezzling $427,800 to invest in cryptocurrencies and stocks

ChainCatcher news, according to Yonhap News Agency, the Cheongju District Court in South Korea sentenced a public official of the Cheongju City Government to five years in prison for embezzlement.

Since January 2017, over a period of seven years, he embezzled 600 million won (approximately $427,800) for investing in cryptocurrencies and stocks as well as repaying personal debts; it was reported that he forged official documents in the scheme.