Lee Hee-jin, previously involved in Pica Coin fraud, has been handed over to the Seoul Police Department due to new allegations of 19.27 million dollars

According to News1, the virtual asset fraud case involving Lee Hee-jin, known as the "Genius of Cheongdam-dong," has been transferred from the Gangnam Police Station in Seoul to the Financial Crime Investigation Team of the Seoul Police Agency.

Lee Hee-jin was previously sued by his partner, the representative of Pica Coin's issuing company, who accused Lee of failing to pay approximately 1.88 billion won in settlement funds as agreed. The partner later filed an additional lawsuit claiming the damages have reached 28 billion won (about 19.27 million USD). The two had signed a contract in 2020 to jointly develop a token for fractional investment in artworks, but Lee is accused of not adhering to the agreed profit-sharing ratio.

Previously, Lee Hee-jin faced another trial for allegedly defrauding 90 billion won (about 61.95 million USD) through false advertising and market manipulation of three tokens, including Pica Coin. He was arrested in October 2023 and later granted bail in March 2024.