Convicted Scammer Concealed Millions in Crypto Before Claiming Poverty

A man from Chantilly, Jihoon Park, was convicted of defrauding investors by transferring over $2.5 million to himself and spending it on a house and cryptocurrency.

Park gained his victims' trust through personal relationships and his former affiliation with a large national financial institution.

He promised safe investments and high returns before diverting their money for personal use, according to the Justice Department's conviction announcement.

Park concealed cryptocurrency worth millions of dollars and listed only $0.34 in financial assets in his bankruptcy filings, denying that he owned any cryptocurrency.