South Korea police raid former mayor’s home in crypto disclosure investigation

South Korean police have searched the home of former Incheon Mayor Yoo Jeong-bok and city offices as part of an investigation into allegations that cryptocurrency assets were omitted from his local election financial disclosure. Summary South Korean police searched former Incheon Mayor Yoo Jeong bok’s home and city offices over alleged cryptocurrency disclosure violations. Investigators are examining claims that about 21,000 crypto tokens were left out of mandatory election asset filings. Election authorities previously said Yoo’s reported assets were about 78 million won lower than his actual holdings. Police have questioned Yoo, his wife and other people linked to the complaint while reviewing evidence seized in the searches. According to South Korea’s Yonhap News Agency, investigators from the Incheon Metropolitan Police Agency’s Anti-Corruption and Economic Crime Investigation Unit carried out search and seizure operations on Sunday at Yoo’s residence and the General Affairs Division of Incheon City Hall, where they collected evidence including mobile phones and computers as part of an investigation into alleged violations of the Public Official Election Act. The investigation ...