On July 24th, Kara member Park Kyu ri faced more cryptocurrency related charges. Park Geun hye is accused of participating in the Pica Coin cryptocurrency fraud case involving Park Geun hye's ex boyfriend Song Zihao. Pica Coin is a low market value token with an art theme.
Park Kyu ri stated in court that she did not participate in any illegal cryptocurrency schemes or manipulation of token prices. She claimed that during her tenure as "Chief Communications Officer and Advisor" at Pica, she only participated as an employee in the planning and promotion of art exhibitions and was not familiar with matters related to cryptocurrency assets.
However, Seong Hae joong, CEO of Pica Coin, stated that Park Kyu ri's statements were untrue and that she had received cash compensation from Song. Currently, Song has been arrested on charges of fraud and breach of trust, with prosecutors accusing him of soliciting non-existent art investments and manipulating Pica Coin prices for personal gain.
