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Lawyer Lee Jong-geun Cleared in V Global Coin Fraud Case Defense Inquiry

South Korean Lawyer Lee Jong-geun Cleared in Attorney-at-Law Act Case Seoul Suseo Police Station has closed its investigation into lawyer Lee Jong-geun, the husband of Park Eun-jung, a member of the Reform Party, regarding alleged violations of the…

Lawyer Lee Jong-geun Cleared in V Global Coin Fraud Case Defense Inquiry

South Korean Lawyer Lee Jong-geun Cleared in Attorney-at-Law Act Case

Seoul Suseo Police Station has closed its investigation into lawyer Lee Jong-geun, the husband of Park Eun-jung, a member of the Reform Party, regarding alleged violations of the Attorney-at-Law Act. The case stemmed from concerns about Lee defending an individual involved in a fraud case he previously investigated as a prosecutor.

Investigation Details

The police announced the case’s closure on March 10, 2026, after initially opening an investigation on February 21st. The investigation focused on whether Lee Jong-geun improperly utilized his former position as head of the criminal department of the Supreme Prosecutors’ Office (from 2020 to 2021) to benefit a client in a fraud case.

The V Global Coin Fraud Case

Lee Jong-geun previously led the investigation into the ‘V Global Coin Fraud’ case, which involved approximately 2.8 trillion won (approximately $2.1 billion USD as of March 10, 2026) stolen from over 50,000 investors through the virtual currency ‘V Cash’. Concerns arose when Lee began representing an individual connected to the fraud after his retirement from the prosecution.

Legal Ethics Council Review

The Legal Ethics Council had previously flagged potential issues with Lee’s acceptance of the case in 2024 and requested an investigation by the Seoul Central District Prosecutors’ Office. The case was subsequently transferred to the Suseo Police Station. Police had received a separate complaint regarding the same allegations in June of the previous year but decided against pursuing charges last month.

Political Context

Park Eun-jung is a member of the Reform Party, currently led by Lee Jun-seok. The Reform Party was founded in January 2024 after Lee Jun-seok split from the People Power Party.

About the author: Marcus Liu - Business Editor

MBA and ex‑B bureau chief specializing in global finance and fintech. Marcus speaks Mandarin, Japanese, and English, and has interviewed CEOs from the Fortune 50 to Y‑Combinator unicorns. Marcus Liu delivers sharp analysis on markets, startups, and corporate strategy for investors and entrepreneurs alike.