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

[wxa7115]

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

[HeRetiK]

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?

At a first glance 2.5 years seem laughable given the financial damages, but with them merely being a "secretary" it looks more warranted. It will be much more interesting to see what sentence the heads of the operation are going to receive, assuming they ever get caught.

[coupable]

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.

[bitbunnny]

It's hard to say, I don't know all circumstances. However, he will still go to prison and that is something and whatever we say 2,5 years is not so short period of time if you are locked. I just hope he will have to return all the money if he kept something and that they will catch his accomplices too.
No matter to all.It's nice to see that not all scamers escape without punishment.

[snipie]

Police said that he played an active role by sending fake statements to victims. Authorities stated that the company cheated people by promising them 60% of the profits generated by mining activities. It was later discovered that no such activities existed.

So this guy was aware of what he was doing. He was sending fake messages during 5 months to victims of the scam which makes him actively involved and deserves to be punished. I don't like much eating and sleeping for free in jail as a "punishment"... I prefer to make him work for the community and the money that was supposed to be earned by him to go to the victims...

[acroman08]

if the man who got caught knew the modus and was willing to work for them, two and a half years is too short(and I am pretty sure he will be put on a minimum to mild security prison). these people have potentially ruined lives and for them to get that short amount of jail time is like a slap on the hand. but in the end, I still can't help but also blame the victims for their carelessness.

[Rengga Jati]

snip..

Do you mean the FutureCoin? This one?
https://futurocoin.com/
But, this coin is already listed in Coin Market Cap and CoinGecko althouigh it has low trading volume. but I'm surprised that the price is interesting, around $1.01 USD (increase +6.58%).
Check the details here:
https://coinmarketcap.com/currencies/futurocoin/
https://www.coingecko.com/en/coins/futurocoin
I am not too exact think that it is the Futuro net, this one @coupable?

Well, whichever the project is, if indeed this is indicated to be a scam or proven to be a scam, it must indeed be tried. In this case the loss to the victims might be a bit cured. But when they are punished for the crimes they committed, can the victims' money be returned? Or lost because this is considered no longer a civil law but a criminal law?
2.5 years is probably the best decision from the court. However, for victims who have invested a lot of money and they did not get their money back, this is certainly unfair. What they want is of course their money back too.

[Yaunfitda]

Definitely, this is justice served here, they are an accomplice and willing participants in the scam, so 2.5 years is fair to them for being part of this scam. They should go and chase the head though, it might take some time because for sure he is hiding, change his identify, but I do hope that he can bring to justice as well and be put behind bars for good to send strong signals to other crypto scammers and criminals.

[Yamifoud]

2.5 years imprisonment from committing 249 million scams, well, for me isn't fair enough but I was judging because of the amount. But that is the court judgment and for sure they look it fair, then nothing to blame with unless there are something under the table transactions...

But for a thousand scams happening globally but it is very unfortunate to see that only a few of them get caught and sent to jail, still a lot of them freely going around and to scam again. The cybercrime section will should be serious in dealing with these issues as scamming keep increasing. Its absolutely a big challenge in every country and we know that they can't catch them all if we don't help the authorities.

[coupable]

snip..

Do you mean the FutureCoin? This one?
https://futurocoin.com/
But, this coin is already listed in Coin Market Cap and CoinGecko althouigh it has low trading volume. but I'm surprised that the price is interesting, around $1.01 USD (increase +6.58%).
Check the details here:
https://coinmarketcap.com/currencies/futurocoin/
https://www.coingecko.com/en/coins/futurocoin
I am not too exact think that it is the Futuro net, this one @coupable?

I am not totally sure too. But this is the result i found after a quick search in google. In the links i provided in my last reply, it was mentioned that Futoro coin is the coin of Futurenet. Check again:

Code:

FuturoCoin - FutureNet CryptoCurrency (https://bitcointalk.org/index.php?topic=2909811.0)

And in the official Futoro coin announcement thread, the website is down and the mining pool too. Check links again:

Code:

[ANN] FuturoCoin - cryptocurrency with instant payments launched. (https://bitcointalk.org/index.php?topic=2886469.0)

But for a thousand scams happening globally but it is very unfortunate to see that only a few of them get caught and sent to jail, still a lot of them freely going around and to scam again.

According to this article, the team behind the alleged scam company is composed by 160 persons. Only the secretary was cought and condamned in jail.

[ultrloa]

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

Just 2.5 years? what a light sentence and totally not fair for the persons affected with their schemes maybe its best to put a heavy case and fines for those scumbags like that since if the penalty of their action is something like that for sure the criminal minded person will not be afraid to do something illegal.

[crzy]

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?

At a first glance 2.5 years seem laughable given the financial damages, but with them merely being a "secretary" it looks more warranted. It will be much more interesting to see what sentence the heads of the operation are going to receive, assuming they ever get caught.

We can’t be so sure that the secretary didn’t part of the scam, and 2.5 years is just not reasonable for a high amount like that. Well, people can’t escape this not unless they used the money they get to change their identities which is more possible to happen. Justice will prevail, even if it take too long but I believe that someone is working behind and the Karma will serve to those scammers.

[taufik123]

Maybe the 2.5-year sentence for involvement in those caught in the 249 million fraud is still fairly lenient, but that's a court ruling. Maybe the two main criminals who are still fugitives will be charged with an even heavier sentence because they both are the main mastermind of this fraud.

South Korea is good enough to deal with crypto scammers which harm many people. in other developing countries crypto scammers are still free to roam without seriousness by the government to eradicate it.

[sunsilk]

Being the secretary of the big bosses, that can be considerably have high participation in the scam. That's not that too heavy sentence for him. And on the side note for the victims, at least they caught someone that's relatively part of the scam.

I hope that the big bosses will be caught soon but I don't think that the money will be returned as they'll keep it somewhere.

[shield132]

Some people spent years in prison for just stealing a loaf of bread in order to feed themselves and their family member(s), also 36 years in prison for stealing $50 and now, a person who was involved in stealing of 249 million USD by running pyramid scheme faces up to 2.5 years in prison.

What a justice we have... And after stealing $249, we are going to feed him from our pocket (the taxes that you pay from your salary goes to feed  these kind of person while they additionally steal money from you). It gives me a feeling of puke.

[Sadlife]

Because the reason is there are no clear guidelines to Cryptocurrency investment scams, if they had a law about crypto pyramid scheme's maybe he could have a much longer sentence.
Atleast regulators could see Bitcoin is traceable and not some evil tool for criminal.

[meanwords]

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?

At a first glance 2.5 years seem laughable given the financial damages, but with them merely being a "secretary" it looks more warranted. It will be much more interesting to see what sentence the heads of the operation are going to receive, assuming they ever get caught.

We can’t be so sure that the secretary didn’t part of the scam, and 2.5 years is just not reasonable for a high amount like that. Well, people can’t escape this not unless they used the money they get to change their identities which is more possible to happen. Justice will prevail, even if it take too long but I believe that someone is working behind and the Karma will serve to those scammers.

To be fair, maybe he was just a nobody. Maybe he wasn't really part of their team but at least someone hired by the main culprits? He might be just their advertising member as the police said

That he played an active role by sending fake statements to victims.

if this guy is part of the team (as in a close friend or a family member), then he knows where the money is or at least where the others are heading. His involvement is still vague which is probably the reason why he was given a short sentence.

[maxreish]

According to the article;

According to the latest reports, two of the masterminds behind the fraud managed to flee abroad. The secretary is the only person sentenced as a result of the investigation so far.

The one who was sentenced 2 years and six months was just the secretary who tend to be the messenger too because he was the one who gave fake statements to the investors.

I've found out that there is already futurenet promotions in our country. Is this the one who pays in bitcoin while chatting, etc? That one in social media platform?
BAD feedbacks were already seen in facebook;
- https://m.facebook.com/futurenetponzi/

[Lorence.xD]

Eventhough the judgment was light, at least we have justice against crypto scam to serve as a deterrent to others in the field or those who are still thinking of taking that route.

The sentence is justified but I hope that these will help these scammers reform, I can agree that it is a deterrent but when they get out of jail, the oppurtunity will robbed of them to go back to normal in our society thus restarting the vicious cycle, punishment for people in jail shouldn't stop there, there should be steps taken to effectively reform this people in order to break the cycle, they might not look like but this people wants to change for the better, it is just that the society outcasts them.

[pooya87]

to be fair this is not the first time a criminal is caught by the law and is sentenced to prison, specially when their crime is scamming others (not things like hacks, since they are harder to catch). basically they are caught all the time but the news usually covers the crime part (like the exchange getting hacked) since that is more exciting and gets more clicks instead of the getting caught part