A church treasurer in South Korea has admitted to embezzlement and unsuccessful cryptocurrency investments.
Date: 2025-09-25 Author: Gabriel Deangelo Categories: IN WORLD
A scandal has erupted in South Korea surrounding the treasurer of a local church. According to police, the man embezzled more than 480 million won (approximately $285,000) from his religious congregation between July of last year and August of this year. These funds were intended for the parish, but the suspect secretly transferred them to fictitious accounts and then returned the money to his own bank account.
Investigators note that the stolen funds were subsequently invested in a "high-yield cryptocurrency project," which turned out to be a Ponzi scheme. Ultimately, the treasurer lost all of his funds, hoping for a quick buck. Realizing that it was impossible to repay the money, he confessed to the parish priest and later confirmed his account during questioning. According to the accused, he acted under the influence of greed and ultimately fell victim to fraud.
Law enforcement authorities reported that the man hid the embezzlement from church leadership and parishioners for a long time. Only after the investment failed and all funds were lost did he dare to tell the truth. He is currently facing a criminal investigation, including charges of embezzlement and breach of trust.
This case is not isolated. A similar incident was previously uncovered in the UK. Shropshire Police reported an investigation into the activities of Desmond Rodgers, who served as treasurer of St. Andrew's Church in Shifnal. The investigation found that he had misappropriated parish funds totaling approximately £170,900 (approximately $225,500). As in the Korean case, the funds were used to participate in a fraudulent cryptocurrency project and disappeared completely.
Both cases demonstrate a similar scenario: people who gained access to church funds abuse the congregation's trust and make risky investments in cryptocurrency, hoping for easy profits. However, instead of the promised returns, such projects lead to the loss of all invested funds and undermine trust in church institutions.
The situation in South Korea has received widespread attention, as it involves not only financial losses but also a moral issue: believers entrusted their donations to the treasurer, believing they would be used for parish development. Now, the funds are irrevocably lost, and the congregation is forced to cope with the consequences of one man's misdeeds.
