Former Incheon Mayor Yoo Jung-bok suspected of concealing 21,000 crypto assets, investigated by police

According to Yonhap News Agency, on July 27, the Incheon Metropolitan Police Agency's Anti-Corruption and Economic Crime Investigation Unit conducted a search of former Incheon Mayor Yoo Jeong-bok's residence and the General Affairs Office of the Incheon Metropolitan Government. Yoo Jeong-bok and his wife are accused of transferring 21,000 units of crypto assets to overseas exchanges and deliberately concealing them in their property declaration as candidates in the June 3 local elections. The Incheon City Election Commission determined that the assets declared in their election bulletin were about 78 million Korean won less than their actual assets, has issued a correction and filed additional reports. The police have questioned both Yoo Jeong-bok and his wife as well as the whistleblower.