Delio’s Jeong Sang-ho Handed 15-Year Sentence Over 70B Won Crypto Scandal
🔒 South Korea's Seoul Southern District Court sentenced Delio CEO Jeong Sang-ho to 15 years in prison for fraud involving nearly 70 billion Korean won ($49.2 million) in customer crypto assets.
⚖️ The court reduced the prosecution's initial 20-year sentence request, citing unlawful search and seizure of evidence, which impacted the case's outcome.
📉 Delio's collapse was linked to the downfall of crypto yield platform Haru Invest, leading to a liquidity crisis and halting of withdrawals that ultimately resulted in bankruptcy.
🔒 South Korea's Seoul Southern District Court sentenced Delio CEO Jeong Sang-ho to 15 years in prison for fraud involving nearly 70 billion Korean won ($49.2 million) in customer crypto assets.
⚖️ The court reduced the prosecution's initial 20-year sentence request, citing unlawful search and seizure of evidence, which impacted the case's outcome.
📉 Delio's collapse was linked to the downfall of crypto yield platform Haru Invest, leading to a liquidity crisis and halting of withdrawals that ultimately resulted in bankruptcy.