“Former People Power Party lawmaker Thae Yong-ho’s eldest son has been arrested and handed over to prosecutors on allegations of cryptocurrency fraud involving about 1.6 billion won ($1.06 million). According to Seoul Gangnam Police Station on Thursday, a man surnamed Thae was indicted and transferred to prosecutors on May 13 on charges including fraud, illegal fundraising, identity theft and embezzlement. He is accused of deceiving acquaintances by using his father’s name and promising profits from cryptocurrency investments, then taking their money. Police believe that the eldest son of the former foreign service official for the North Korean regime defrauded seven victims. He is also accused of embezzling from a publishing company run by his mother, author Oh Hye-sun. During a 2024 parliamentary audit, while serving as secretary-general of the Presidential Advisory Council on Democratic and Peaceful Unification, Thae Yong-ho apologized over the allegations involving his eldest son. “I deeply apologize for causing public concern because of my eldest son’s issue,” he said. Before
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