The founder of Block Cell was sentenced to 9 years in prison and a fine of approximately US $ 87.85 million for crypto fraud

According to Yonhap News Agency, on April 12, the Seoul High Court announced that the original sentence of a cryptocurrency investment fraud case was upheld, that is, the founder of Block Cell Investment Company was sentenced to 9 years in prison and sentenced to 106 billion won (about 87.756 million US dollars) Fine. It is reported that the owner of the defendant Block Cell Investment Company established Block Cell in December 2018, which announced that it will list a new cryptocurrency and promised to return 150% of the investor's investment cost, etc., which attracted a total of about 15 billion won in investment. He was subsequently charged with fraud. At present, the cryptocurrency promised by Block Cell is still not available.