The news was brought to a public as a judge from Seoul's Incheon District Court has stated a fine of $15 million and $8 million accordingly to the two men on April 19, as it had been revealed by Yonhap, the South Korea news agency.
The report mentioned the two suspects who began the putative scheme since 2015 and primarily received 26 billion won (or $24 million) from their investors. Then those suspected citizens afterwards constructed the multi-level company by budding investors with high payoffs through investing in bitcoin.
The judge declared in his report that the multi-level transactions can cause a risk to the order in economic and social spheres with mass production of many victims. Then the court appointed that the fine is given based on the substantial amount of investment they have allegedly attracted from their defrauded customers.
The report about those events turns up just a few days after South Korea's neighbor country - China, has also strengthened up efforts in breaking down multi-level marketing schemes that are supposed to be under disguise of bitcoin investment.