The head of the financial department of the Health Insurance Corporation in South Korea, responsible for national health insurance, embezzled 4.6 billion won of public funds and almost lost it all in Futures Trading.

On July 16, according to SBS, the head of the finance department of the Korean Health Insurance Corporation, responsible for universal health insurance, embezzled 4.6 billion won in public funds, but nearly lost it all due to participation in Futures Trading. South Korean investigators stated that a supervisor with the surname Choi, from April to September 2022, embezzled up to 4.6 billion won through 18 system operations while serving as the head of the finance management group and then fled overseas. The supervisor was found at a luxury resort in the Philippines, and was eventually captured in Manila in January 2024. The Health Insurance Corporation recovered 720 million won through civil litigation, but the remaining 3.9 billion won was lost in the Choi supervisor's Crypto Assets Futures Trading market, rendering traditional recovery mechanisms ineffective. The first and second trial judges sentenced Choi to 15 years in prison, stating, "Public officials are required to be honest, but the methods of embezzling large sums of money in a planned manner are extremely malicious." The final ruling on the 15th upheld the original judgment. (BlockTempo)