The head of the South Korean peer-to-peer lending service is in a difficult situation after purportedly diverting investors’ money intended for building projects in order to bolster his cryptocurrency deals.
NBN Media reports that the operator of a private equity fund has supported building initiatives on P2P platforms since 2018. The president, whose identity and company are still unknown, proposed a low-rise housing project in Incheon. Due to their prior association, the investor trusted the president and consented to support the undertaking financially.
Problems arose when the general manager requested an additional 100 million won (about $69,430). Once the investor realized the money wasn’t being used for building but was instead going toward the Leader’s cryptocurrency investments, he regretted the transfer, even though he had initially been confident. The head is accused of stealing from building projects for his gain by the investor. Toncoin (TON) Value Forecast for March 26th
The investor, feeling deceived, expressed regret for the violation of trust and emphasized that a trustworthy P2P platform should always put client obligations first—a value the Leader purportedly broke.
Understood. Consequently, a financier hailing from South Korea is readying themselves for a judicial confrontation. They are aiming at a chief executive officer and a peer-to-peer loaning agency, asserting that the head honcho plundered the capital. Seemingly, assured rate disbursements did not come to fruition, and the backer considers they were misguided. It seems they are suggesting misappropriation and patron duplicity.
