Former FSS Official at Kim & Chang Accused of Urging Vitos MOU in KOK Coin Fraud Case
Summary
- Allegations were raised that a Kim & Chang specialist adviser who formerly worked at the Financial Supervisory Service urged financial firms to sign an MOU with Vitos in connection with the KOK Coin multilevel fraud case.
- Rep. Lee Kang-il said that, in relation to Hana Bank’s participation in a stablecoin consortium, a specialist adviser at a law firm urged financial firms to sign a memorandum of understanding (MOU) with Vitos.
- FSS Governor Lee Chan-jin said he had received a brief report related to Vitos, while Hana Bank CEO Lee Ho-seong said Vitos was not a company he was familiar with.
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Allegations have emerged that a Kim & Chang specialist adviser who previously worked at South Korea’s Financial Supervisory Service urged financial firms to sign a memorandum of understanding with Vitos in connection with the KOK Coin multilevel fraud case.
Edaily reported on October 19 that Rep. Lee Kang-il of the Democratic Party made the claim during a National Assembly audit of the Financial Supervisory Service. Citing multiple people involved, Lee said that in connection with Hana Bank’s participation in a stablecoin consortium, they were introduced to a specialist adviser at a law firm, and that the adviser encouraged financial firms to enter into an MOU with Vitos.
Lee identified the adviser as a Kim & Chang official and a former FSS official.
FSS Governor Lee Chan-jin said he had received a brief report related to Vitos.
Hana Bank CEO Lee Ho-seong said he did not know the details. He added that Vitos was not a company he was familiar with.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.