Korean construction firm CEO indicted for embezzling $18.7M to fund crypto, pay debts

The head of a construction firm in Cheongju, South Korea, who has faced past allegations of collusion with local officials and police, has been indicted for allegedly embezzling company funds to invest in cryptocurrency and pay off personal debts, according to Yonhap News. The CEO reportedly diverted 25.9 billion won ($18.7 million) between June 2012 and January 2025.