The mastermind of the $253 million POD and ATT token fraud case, Jonber Kim, was acquitted in the first-instance trial

Odaily reports: 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 statements regarding the project's actual progress, business prospects, and use of funds, but prosecutors failed to prove that any specific investors purchased tokens because of this false information, so the fraud charge was not established; the related breach of trust charges were also acquitted due to insufficient evidence.

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