OK PLAY, a company that sparked controversy over eating and running multi-level virtual assets worth 4.2 billion won, was cleared by the police, but was sent to the Seoul Central District Prosecutors’ Office due to an objection from the victim’s lawyer. The prosecution has demanded a supplementary investigation from the police who received the initial case.Korean Food and Run Incident 먹튀

According to the legal community on the 18th, four former and current executives, including Choi, CEO of Cockplay, were sent to the Seoul Central District Prosecutors’ Office on charges of violating the law on the regulation of similar reception activities and fraud. The Gangnam Police Station, which first investigated the case, concluded that it was not guilty and dismissed it, but the victim’s lawyer’s objection was accepted. The Central District Prosecutors’ Office demanded a supplementary investigation at the end of last month from Gangnam, which received the first case.

Earlier, Cockplay attracted investors, saying that it can enjoy Korean Wave content in its application with virtual assets. It advertised that if you send other virtual currencies such as Ethereum to accounts created by the Cockplay app to purchase Cockcoin, your own virtual asset, you will receive 3 to 12% interest every month in a staking (deposit) method. It promised to guarantee additional profits in proportion to the amount of investment if new investors are recruited. Investors surged as they held briefing sessions across the country mainly for middle-aged people.

Amid suspicions that Cockplay is engaged in a multi-level coin fraud, 97 Japanese investor groups sued Cockplay’s management in May last year. Four former and current executives, including CTO, are accused of violating the law on the regulation of similar receiving activities and fraud, saying they did not respond to requests for withdrawal of profits. In response, the intelligent crime investigation team at the Gangnam Police Station in Seoul called in the complainant and the lawyer to launch the investigation, which continued for more than a year.

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