A South Korean public official embezzled $416,000 of public funds to invest in cryptocurrencies and may face a fine of up to five times the amount

Odaily News South Korea’s Audit and Inspection Commission has urged the city of Cheongju to take “severe disciplinary action” against an official who misappropriated public funds for personal cryptocurrency investments. The official worked in the Cheongju city government and was in charge of student-related funds and subsidies.
The committee said the official had been charged and convicted for the same crime after “embezzling about 600 million won ($416,244)” over seven years and investing it in crypto assets.
The committee has the power to impose further penalties and recommended that the city take "minor disciplinary action" against the officer's five supervisors.
In addition, the city may impose further fines on the same official. It is understood that in addition to disciplinary sanctions, public officials who embezzle or misappropriate public funds may also be required to pay a "disciplinary surcharge" of up to five times the amount of embezzlement or misappropriation.