[Asia Economy Reporter Seongpil Jo] The criminal proceeds of Jo Joo-bin (24, currently incarcerated), who was indicted on charges including the production and distribution of sexual exploitation materials, have been frozen.
According to the legal community on the 2nd, the Seoul Central District Court Criminal Division 30 (Chief Judge Lee Hyun-woo) recently approved the seizure and provisional preservation request for 15 cryptocurrency wallets and securities deposits and stocks related to Jo's criminal proceeds.
The Act on the Regulation and Punishment of Concealment of Criminal Proceeds prohibits the disposal of criminal proceeds before a guilty verdict and stipulates a pre-indictment seizure preservation system to confiscate proceeds upon confirmation of guilt.
Earlier, the court also decided last month to seize and provisionally preserve 130 million won in cash seized from Jo by the prosecution.
Jo was indicted on charges of threatening 25 female victims from May last year to February this year to film sexual exploitation videos and selling and distributing them through the Telegram "Baksa Bang".
He is also accused of threatening minor victims, ordering accomplices to attempt sexual assault, and forcing similar sexual acts.
The prosecution applied 14 charges against Jo, including production and distribution of obscene materials under the Act on the Protection of Children and Youth Against Sexual Offenses, and indicted him in April. They are currently considering applying the crime syndicate organization charge for accomplices and additional crimes.
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