The son of former lawmaker Tae Yong-ho has been transferred to prosecutors on charges of cryptocurrency investment fraud totaling approximately 16 billion won (about $12 million).
According to police on May 22, the Gangnam Police Station in Seoul sent Tae's son, identified as Tae Mo, to prosecutors on May 13 while he was in custody. Police had arrested him on May 7.
Tae is accused of defrauding acquaintances by promising them returns on cryptocurrency investments, leveraging his father's prominent political name. Investigations revealed that he allegedly swindled around 16 billion won from seven victims.
Additionally, Tae is reported to have embezzled 300 million won from a publishing company run by his mother, author Oh Hye-sun.
Born in Pyongyang, Tae followed his father, a former North Korean diplomat, abroad from a young age and defected to South Korea with him in 2016. He attended Pyongyang Medical University and later completed his studies at Korea University after their defection.
In response to the fraud allegations against his son, Tae Yong-ho expressed regret during a parliamentary audit of the Foreign Affairs and Unification Committee in 2024, stating, "I apologize for causing social controversy."
* This article has been translated by AI.
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