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Incheon mayoral candidate accused of falsely reporting assets; suspected of undisclosed spouse’s crypto assets

DeepFlowTech
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Deep Tide TechFlow news: On June 03, South Korea’s Yonhap News Agency reported that the Incheon City Election Commission officially filed a complaint with the Incheon Police Agency on June 1 for alleged violations of the Public Official Election Act against Incheon mayoral candidate Liu Zhengfu of the People Power Party. Liu Zhengfu is accused of submitting false statements in his candidate asset declaration, with his spouse’s actual assets totaling about 501.857 million Korean won—far higher than the declared 439.88 million Korean won. The total family assets should also be about 1.92297 billion Korean won, rather than the declared 1.84472 billion Korean won. Earlier reports said that his spouse held 21,000 virtual assets and transferred them to overseas exchanges to evade local election asset declaration obligations. The Incheon Police Agency’s Anti-Corruption Investigation Team will combine this complaint case with related cases previously brought by the Democratic Party.
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