A South Korean court has upheld the deportation of a Libyan national convicted of operating an illegal money-transfer network using cryptocurrencies, with transactions worth about $62 million (94 billion won), after rejecting his legal challenge against the deportation order.
According to The Korea Herald, the Daejeon District Court dismissed the administrative lawsuit filed by the Libyan citizen against immigration authorities, ruling that the state has broad powers to deport foreign nationals whose continued residence is deemed undesirable.
The court rejected the plaintiff’s argument that his business activities had contributed to the South Korean economy and noted that his wife and seven children reside in the country, despite the fact that he has lived in South Korea since 2009.
Investigators found that between November 2021 and October 2022, the defendant and his associates operated an illegal foreign-exchange network using cryptocurrencies. The scheme involved selling digital assets purchased abroad and transferring the proceeds in Korean won to beneficiaries inside South Korea through 2,515 transactions worth a total of 94 billion won.
The newspaper reported that the operation was used by Libyan businessmen to move funds into and out of South Korea for commercial purposes, while part of the illicit proceeds was concealed as commercial payments within international transfers.
According to the report, the defendant earned billions of won in commissions from the scheme, which authorities classified as a serious financial crime because it bypassed official banking channels, evaded regulatory oversight, and obscured the origin of funds.
In 2023, the Incheon District Court sentenced the Libyan national to two years in prison for violating financial transaction laws. Immigration authorities subsequently ordered his deportation, a decision that has now been upheld by the court.
