Finally some justice, scammer sent to jail at South Korea.

[Leonardo7]

Do you think his punishment is fair?

This punishment of 2.5yrs imprisonment is unjust and unfair to a civilized world, this will further encourage the scammer to come back stronger. A life imprisonment should have well been handed over to him and all his asset confiscated. Sadly the justice system can be exploited with a good lawyer.

[1714991135]

1714991135

[adzino]

A man was sentenced to 2.5 years for his involvement in a 249 million scam, it seems the two main culprits have escaped overseas, basically the scammers offered the victims a percentage of their mining profits if they invested with them only to be discovered later that no mining took place.

Do you think his punishment is fair? Those people scammed so many people out of their savings in something they knew was fully illegal and yet the sentence is incredibly light, how many people have seen their future crumble just before their eyes or even killed themselves over this.

While it is nice that at least a scammer has to face the justice system at the same time I am disappointed by this short sentence. What do you think of this?

https://cointelegraph.com/news/crypto-scammer-sentenced-by-south-korean-authorities

Scammed almost 250 million and he got only 2.5 years of jail? Lmao!
He would happily serve the 2.5 years sentence. Maybe even get paroled after a year and then enjoy his life. I sure he had hid some of his money somewhere it cannot be traced.

Don't see why would someone kill themselves over this? The scammer got caught and I am kinda sure they will get back their money (unless they themselves were committing illegal act. They can say good bye to their coins).

[Sanugarid]

2.5 years for a 249 million scam definitely doesn't seem like a fair judgement to me since the amount involved is too much.
Just imagine that you get free food and a shelter for 249 million and after that you get to keep the 249 million

Been watching korean dramas lately, I guess this could be a basis for my opinion. Court sentences in Korea is very low, you can be jailed for 3 years after robbing, 2 years for theft but I don't know about heinous crimes like rape and murder.

2.5 years after being involved in a multi-million scam is quite fair for me, after reading the article the person is 43 years old, secretary of the illegal company for only 4 months, he must have left when he found out the wrongful act of his company, that's why he is sentenced just for a very low imprisonment time for not telling the authorities about it. " No details were given about the magnitude of his involvement " the court probably saw that this guy has nothing to do mainly with the scam he just promoted what his boss asked him to do, he just knew it but consequence must be served.

[jpnl0006]

A man was sentenced to 2.5 years for his involvement in a 249 million scam, it seems the two main culprits have escaped overseas, basically the scammers offered the victims a percentage of their mining profits if they invested with them only to be discovered later that no mining took place.

Do you think his punishment is fair? Those people scammed so many people out of their savings in something they knew was fully illegal and yet the sentence is incredibly light, how many people have seen their future crumble just before their eyes or even killed themselves over this.

While it is nice that at least a scammer has to face the justice system at the same time I am disappointed by this short sentence. What do you think of this?

https://cointelegraph.com/news/crypto-scammer-sentenced-by-south-korean-authorities

the furthereance of fraudstars existing within the crypto space is one of the reasons why people get scared of coming into the space and technology. I think wwho ever is caught in the business of scamming people via schemes said to be a part of the spcae should face dire consequential punishment.

[nicecrypto]

A man was sentenced to 2.5 years for his involvement in a 249 million scam, it seems the two main culprits have escaped overseas, basically the scammers offered the victims a percentage of their mining profits if they invested with them only to be discovered later that no mining took place.

This is exactly the reason we see scams on a much larger scale, these stupid idiots knows that they could get away even if you scam anyone millions of dollars and then get away with it for a small sentence and i am sure they will not be paying back the amount they scammed. The rules should be really strict globally for scammers and they should confiscate their entire wealth and distribute to the affected people and then only we will see a reduction in this.

I agree,  the rules should be extremely strict in the sense that scammers would think twice before indulge in scamming activities, if they were made to pay every penny they took and then face with a strict sentence, it would have been much better,  scammers should not be pitied because they are vicious.

[Upgate]

It serves him right. 2.5 years imprisonment term is just a warming of being involved of crypto scam. Maybe next time, the jail term will be much depending on the level of involvement.
The other two should be jailed also. South Korea should live the case open until they track the other two that traveled. None of them should go unpunished

[Mahanton]

A man was sentenced to 2.5 years for his involvement in a 249 million scam, it seems the two main culprits have escaped overseas, basically the scammers offered the victims a percentage of their mining profits if they invested with them only to be discovered later that no mining took place.

Do you think his punishment is fair? Those people scammed so many people out of their savings in something they knew was fully illegal and yet the sentence is incredibly light, how many people have seen their future crumble just before their eyes or even killed themselves over this.

While it is nice that at least a scammer has to face the justice system at the same time I am disappointed by this short sentence. What do you think of this?

https://cointelegraph.com/news/crypto-scammer-sentenced-by-south-korean-authorities

2.5 years in prison might be short and not really that much equal on the crime that they had committed but we cant do anything about it if the court do make out such decision.
How much more if this one is bailable? Since they do have money then they do have the power on freeing up themselves on such crime but if not then 2.5 wont really be that too long
but im wondering if there would be possible subject to change up on said duration?

[Pamadar]

It serves him right. 2.5 years imprisonment term is just a warming of being involved of crypto scam. Maybe next time, the jail term will be much depending on the level of involvement.

Punishment should be implemented according to the laws that govern the guilt, it's a good sign to let everyone that there's rules in this kind of crime.

The other two should be jailed also. South Korea should live the case open until they track the other two that traveled. None of them should go unpunished

As long as those involvement are being tracked, those people should also serve the right punishments, no one should be freely go without verdict.

[carriebee]

Do you think his punishment is fair?

This punishment of 2.5yrs imprisonment is unjust and unfair to a civilized world, this will further encourage the scammer to come back stronger. A life imprisonment should have well been handed over to him and all his asset confiscated. Sadly the justice system can be exploited with a good lawyer.

A short sentence it should prolong the punishment as others scammer would realize if in case they will get caught it just 2.5 years of suffering. Even short punishment this shows justice to those victim of this scammers. This really serves a warning to those scammer that still exists these days.

[Vaskiy]

Scammers if caught need to be punished severely. With the criminals being sentenced to 2.5 years of imprisonment the justice is alive, but the punishment is not equal to the damages the culprits have caused to the common people as well as to the cryptocurrency network. These kind of scams truly affect the goodness cryptocurrencies have got. With these kind of activities people blankly end up cryptocurrencies were scam.

[kawetsriyanto]

A man was sentenced to 2.5 years for his involvement in a 249 million scam,

Is this the final punishment for the scammer or has it just become a claim that may be reduced further? And if jailed for 2.5 years, can the victims receive more of their money losses? Or is their money really gone forever? If so, then it would be unfair for the victims that scammers of 249 million scams to only get a prison sentence of 2.5 years. Wouldn't it be fairer if they also returned the money of the victims of the scam if it was proven?

[Viscore]

Scammers if caught need to be punished severely. With the criminals being sentenced to 2.5 years of imprisonment the justice is alive, but the punishment is not equal to the damages the culprits have caused to the common people as well as to the cryptocurrency network. These kind of scams truly affect the goodness cryptocurrencies have got. With these kind of activities people blankly end up cryptocurrencies were scam.

If we decide our own, probably it has been prosecuted to electric chair or something terrible but they have the law and they need to follow it. Besides, not all accussed and proven guilty are need to suffer a harsh punishment. Scamming is not killing and that also we need to kill them if caught.

Though we say that 2.5 years is imprisonment for million scam issue is unfair (really unfair), maybe we could make it 30 years...but that is the court's decision and that is final.

[lionheart78]

Scammers if caught need to be punished severely. With the criminals being sentenced to 2.5 years of imprisonment the justice is alive, but the punishment is not equal to the damages the culprits have caused to the common people as well as to the cryptocurrency network. These kind of scams truly affect the goodness cryptocurrencies have got. With these kind of activities people blankly end up cryptocurrencies were scam.

If we decide our own, probably it has been prosecuted to electric chair or something terrible but they have the law and they need to follow it. Besides, not all accussed and proven guilty are need to suffer a harsh punishment. Scamming is not killing and that also we need to kill them if caught.

Though we say that 2.5 years is imprisonment for million scam issue is unfair (really unfair), maybe we could make it 30 years...but that is the court's decision and that is final.

The punishment was served according to the magnitude of involvement to the crime.  the person is just an accomplice, not the mastermind or the one pulling the string.  He is just a paid laborer in a short period of 4 months.  I think the punishment is fair enough to signal that anyone connected or involved in a scam will be punished.  I just hope those who recruit people, the one called sponsors would be punished too. 

[samputin]

<...>
No matter to all.It's nice to see that not all scamers escape without punishment.

Yeah, well, I guess you're right. At least not all of those culprits get away with their crimes. But, it's just the secretary. It would be more just if the mastermind (s) will be caught and punished, too. 2.5 years of imprisonment is somehow long enough since he's just an accomplice. But considering the damages it done to the victims, and with that huge amount, that's surely unfair. For the boss(es), on the other hand, I hope they'd be put in jail for a longer time and return what they took from those people.

[Shame_Game]

Do the scammers still hope that they manage to evade justice?

[The Sceptical Chymist]

We considered that many victims were mass-produced, and the amount of damage was astronomical.

I'm not sure what "mass-produced" victims are, but that's probably just a translation oddity.

Anyway, at least there was some justice done in this case, even if only one person thus far got any jail time.  I think most crypto scams end up with nobody being prosecuted, so at least 2.5 years in the slammer is something. 

The punishment was served according to the magnitude of involvement to the crime.  the person is just an accomplice, not the mastermind or the one pulling the string. 

Right, that's what I gleaned from the article--and it sounds like the investigation isn't even over, so hopefully those scammers with more culpability will get even more prison time.

[rexxarofmoknathal]

A man was sentenced to 2.5 years for his involvement in a 249 million scam, it seems the two main culprits have escaped overseas....

While it is nice that at least a scammer has to face the justice system at the same time I am disappointed by this short sentence. What do you think of this?

I personally don't believe in the justice system. To me it makes no sense how for some trials you get a sentence for 7 years just by stealing a loaf of bread, while in some cases you get 2-3 years for money laundering or drug dealing.

In this particular circumstance, it seems that the scam was successful at fooling people as you wouldn't give your money away as investment without seeing any proof of the mining or some sort of expected return. As for his 2.5 year sentence I can't say I agree or disagree as I do not know the full extent of the story.

[suvo05]

Did he return back all the money he accumulated by scamming the people? If he hasn't that means no justice

The investigation have been lunched a month ago: https://cointelegraph.com/news/investors-defrauded-by-south-korean-pyramid-scheme
The alleged scam is known as Futurnet. By checking about this company, i was surprised to see so many threads here in bitcointalk discussing it and its coin called Futoro Coin. This is a primary list of those threads:
[ANN] FuturoCoin - cryptocurrency with instant payments launched.
Website is down:

Code:

http://%22https//futurocoin.com/

Pool is also down:

Code:

http://futurocoinpool.com/

FuturoCoin - FutureNet CryptoCurrency
Futurocoin: 2 milion business partner waiting, launching 25.11.2017
FuturoCoin - FutureNet CryptoCurrency

For the secretary who had 2.5 years in prison, i think it's fair if he doesn't own a part of the scammed amount. The alleged company is still under investigation.

The website is not down I just checked and it's still running.


Don't know about the pool, I wish not to go beyond this.  

[Chris Barth]

Pleased to know he was caught. I wont really say that 2.5 years is big nor small. I'd rather talk about the 'mining' part. Most people just don't get that mining isn't done with all sites/people. Most of them are scam. And even after they've read people testifying to being scammed, they'll still fall in. While he stay in there for his 2.5 years, I just hope people get smarter and understand the age we're in.

[gamer4156]

Such news is rarely available at present. In this way, if some scammers are caught and sent to jail, other scammers will be scared. Every government should take steps so that the people of their country can work safely online. From the depths of my heart I welcome the initiative of South Korea.