Mastermind of $253M POD and ATT token fraud case Jonber Kim acquitted in first-instance verdict

Odaily News: The Seoul Southern District Court recently issued a first-instance verdict in a fraud case involving approximately $253 million in POD and ATT tokens, acquitting Park, known as Jonber Kim. The court found that the defendant did indeed make misleading claims regarding the project's actual progress, business prospects, and use of funds, but prosecutors failed to prove that any specific investors purchased tokens based on this false information, and therefore the fraud charge did not stand; the related breach of trust charge was also acquitted due to insufficient evidence.

In addition, two co-defendants were sentenced to imprisonment with a suspended execution for submitting false materials during the maintenance review process for listing on Coinone. (DigitalassetWorks)