"Where's the guy who ran off with the money?" Coin Company CEO Swings Baseball Bat

Employee Who Fled with Company Funds and Detained Acquaintance
Organized Violent Acts... Amount Extorted Reaches 10 Billion Won

There have been confirmed circumstances of 'organized violence' involving the coin company CEO and his accomplices, who detained and assaulted acquaintances of an employee who absconded with company funds for 12 hours.

According to an MBN report on the 22nd, Kim Amugae, the CEO of the coin company, detained and assaulted two acquaintances of the employee who absconded with company funds for over 12 hours in February last year while trying to find the employee.

In the released video, Kim and his accomplices struck the victims' buttocks with aluminum bats and their hands. They also slapped the cheeks of kneeling men multiple times.

The group led by the CEO of a cryptocurrency company, who absconded with company funds and detained and assaulted acquaintances of an employee for 12 hours, was revealed to have engaged in organized violence.
[Photo by MBN]

During this process, threats such as "If we don't find (the employee), you won't return alive" and "We will cut off your fingers" were made. The assault reportedly ended when one of the victims escaped to a police box about 400 meters away from the building where they were detained.

However, it was later found that the employee who supposedly absconded was actually another company CEO who had fled due to Kim's threats. Kim and his group forced him to write an IOU and threatened to harm his family if he did not pay the money.

The Seoul Metropolitan Police Agency's Violent Crime Investigation Unit estimates that the amount extorted by Kim and his group through such methods reached 10 billion won, and the number of assaults committed amounts to dozens. The police have investigated that 15 people were involved in this organized violence and are continuing the investigation, believing there are more accomplices.

Kim and four main perpetrators, including public officials, have been arrested on charges such as habitual extortion. The police have additionally apprehended one main suspect and plan to transfer four accomplices to the prosecution without detention.

However, as the investigation was delayed, including the dismissal of Kim's arrest warrant, the assault victims reportedly lived in fear to the extent of hiring bodyguards.

One victim told MBN, "The arrest warrant was dismissed because of connections with former high-ranking lawyers and others," adding, "I didn't go home for two or three months. I was scared, wondering 'What if they come looking for me?'"

A police official explained the reason for the investigation lasting over a year, stating, "Just before arresting Kim and his group, the Itaewon tragedy occurred, so investigative resources had to be redirected to the special investigation headquarters."