A sentence of two years in prison has been confirmed for Simmo (58), the “Coin President,” who swindled investment money by deceiving that it was a coin linked to gold. Shim, who sold dozens of coins through a multi-level method, was called the ‘Coin President’ in Gangnam, Seoul. After the Hankook Ilbo report on Mr. Sim, Coinone belatedly designated ‘The My The Touch Gold ( TMTG )’ coin as a ‘special item’, which is the stage before the end of transaction support (delisting). About 200 victims are preparing a class action lawsuit against Shim.

” TMTG gold-linked, raised to $ 4 by the end of the year”

According to the legal community on the 19th, the second division of the Supreme Court (Presiding Judge Noh Tae-ak) confirmed the lower court sentenced to two years in prison for Shim, who was charged with fraud under the Act on the Aggravated Punishment of Specific Economic Crimes. Mr. Shim, who was a director of Digital Gold Exchange ( DGE ) , the issuer of

TMTG , told complainant Mr. Kim in August 2018 that he would build a gold-linked platform for TMTG he was developing, link it with SK OK Cashback and Lotte Lpoint, and invest money in China. He was indicted for selling TMTG worth 1.75786 billion won by deceiving that 100 billion won would come in . Mr. Shim also guaranteed capital gains to the complainant, saying that TMTG would rise to $4 at the end of the year. Prosecutors saw that there is no possibility that the price will soar in a short period of time without artificial manipulation, as there is little possibility of a large-scale investment in TMTG or its use in real life.

A photo reported to the Hankook Ilbo by a victim of investment fraud from ‘Coin President’ Shim. At the TMTG business briefing, a DGE official is explaining the coin. Victim provided

The court of first instance accepted most of the prosecution’s arguments and sentenced him to three years in prison. The court judged that ” TMTG can be exchanged for gold, linked to OK Cashback and L Point, etc., and differentiated from existing virtual currencies such as attracting large amounts of investment from China and others, thereby deceiving the victim as if high profits could occur.”

A capture of the gold interlocking description in the TMTG white paper.

On appeal, the sentence was reduced to two years in prison토스카지노

In the second trial, Shim’s sentence was lowered to two years in prison. While acknowledging the responsibility of the complainant to some extent, it was also taken into account that the victim recovered some of the damage by disposing of a significant portion of TMTG .

Shim’s lawyer changed to a famous law firm lawyer from the second trial. As a result of the Hankook Ilbo’s coverage, controversy arose as lawyers who were former high-ranking prosecutors and former judges at this law firm were identified as shareholders of TMTG Issuer ( DGE ) operated by Mr. Shim. According to the DGE share table and shareholder list obtained by Dong-A Ilbo , the two each held a 2.63% stake in DGE . It was also said that Shim reassured investors by mentioning the names of the lawyers in the process of TMTG ‘s private sale (private sale only to specific investors). Shim hired an additional lawyer from the Seoul High Court and appealed to the Supreme Court, but was dismissed.

Graphics = Reporter Moonjoong Kim

Graphics = Reporter Kang Joon-goo

Coinone TMTG Designated as ‘Notice Item’… delisting crisis

The victims plan to file a complaint against Sim’s gang to the Seoul Southern District Prosecutor’s Office next month. Shim received criminal punishment only for fraud, but the victims plan to sue them for violating the Similar Receiving Act and the Door-to-Door Sales Act. The Crypto Bank ( CBANK ) coin, which

TMTG and Sim have been selling together, was designated as an item of caution on the Coinone Exchange on the 16th, right after the Hankook Ilbo reported on Sim. Delisting is decided through a two-week explanation process. Coinone revealed the reason for the designation, saying, “We have confirmed that major businesses have virtually ended or that the service is not operating normally.”

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