Korean police chief, officer indicted for taking bribes from crypto launderers

A South Korean police chief and a senior officer have been indicted on charges of accepting bribes from a criminal ring that laundered over 200 billion won (approximately $144 million) in illicit funds, including proceeds from voice phishing scams, using cryptocurrency. The Suwon District Prosecutors' Office announced the indictments on Nov. 27. The two officials allegedly received tens of millions of won in cash, luxury gifts, and entertainment in exchange for providing sensitive investigation details and other favors. Prosecutors indicted four executives of the illegal crypto investment firm, including its CEO, on charges of concealing criminal proceeds, violating financial transaction reporting laws, and bribery, with a fifth individual indicted without detention. The indicted officers, a superintendent from the Seoul Dobong Police Station and an inspector, face charges of aggravated bribery and have both been suspended from their duties.