Pro Golfer Sued for Alleged Embezzlement of 300 Million Won in Coin Purchases

Professional Golfer An Seong-hyeon

Kang Jong-hyun (41), who is in custody on charges including embezzling 62.8 billion KRW from a Bithumb affiliate, has filed a police complaint against professional golfer Ahn Sung-hyun (42), who is being tried together on charges of conspiring to solicit cryptocurrency (virtual asset) listings.

According to a JTBC report on the 5th, businessman Kang, suspected of being the actual owner of the cryptocurrency exchange Bithumb, recently submitted a complaint to the Gangnam Police Station in Seoul. There are three accused individuals, including Ahn.

Professional golfer Ahn Seong-hyun, who is accused of accepting money and valuables from a coin issuing company under the pretext of helping with listing (fraud and breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes), is attending a detention hearing (warrant review) held on September 1 at the Seoul Southern District Court in Yangcheon-gu, Seoul.
[Photo by Yonhap News]

Kang claimed that Ahn has not repaid the money he borrowed from him. In the complaint, Kang wrote, "Ahn Sung-hyun requested me to lend 300 million KRW to a famous PGA Tour golfer who wanted to buy coins in the U.S." After handing the money to Ahn, Kang later found out that the money (cryptocurrency) did not go to the famous golfer but was received by Ahn, and confronted him about it.

In response, Ahn's side stated, "It is true that we talked about the golfer, but we never asked to borrow money," and claimed that the 300 million KRW was Kang's investment under a borrowed name. The golfer mentioned by Ahn said, "I never asked to borrow money nor was I aware that any money was exchanged." The police recently summoned Ahn for questioning as a suspect and plan to sequentially investigate the other accused individuals.

Professional golfer Ahn Seong-hyun, who is accused of accepting money and valuables from a coin issuing company under the suspicion of fraud and breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes, appeared at the pre-arrest detention hearing at the Seoul Southern District Court in Yangcheon-gu, Seoul on the 1st.
[Image source=Yonhap News]

In addition to this complaint, Ahn is also accused of receiving 3 billion KRW in cash, two luxury watches worth a total of 400 million KRW, and a high-end restaurant membership card from former Bithumb Holdings CEO Lee Sang-jun (54) and Kang between September and November 2021, in exchange for soliciting the listing of two so-called 'Kimchi coins' on Bithumb.

Ahn joined the Korea Professional Golfers' Association (KPGA) in 2005. He appeared on SBS Golf Academy as the head pro in 2011 on the same broadcaster's sports channel and served as a coach for the national golf team reserve squad from 2014 to 2018.