
Prosecutors are appealing for jail time of eight years for Lee Jeong-hoon over alleged fraud after he was found not guilty in a ruling earlier this year.
Prosecutors in South Korea filed an appeal in an alleged fraud case involving Lee Jeong-hoon, former chair of local crypto exchange Bithumb.
South Korean news outlet Seoul Economic Daily reported today that prosecutors had reiterated their call for an eight-year jail term for Lee, in an appeal hearing on Thursday.
The case centers on the proposed October 2018 takeover of Bithumb, a plan involving both Lee and Kim Byung-kun, who was chair of BK Medical Group and a cosmetic surgeon, and alleged fraud-related wrongdoings involving at least 110 billion won ($85.2 billion).
Lee was previously found not guilty in the first instance — after prosecutors had sought eight years of jail time — earlier this year. The appeal judgment against Lee is scheduled for January 18, 2024, according to the local media report.
The news comes less than a week after Bithumb was reportedly starting to plan for an initial public offering in Korea. Edaily reported on Sunday that Bithumb chose Samsung Securities as its underwriter last month for a potential IPO planned in the second half of 2025 on Kosdaq.
Source: theblock.co
Coin | Change(%) | Price | Volume (24h) |
---|---|---|---|
Bitcoin (BTC) | 0.64 | $118,305.13 | $23.3B |
Ethereum (ETH) | 0.96 | $3,776.52 | $22.8B |
Solana (SOL) | 0.61 | $187.148840 | $9.9B |
XRP (XRP) | 1.96 | $3.212018 | $7.2B |
Dogecoin (DOGE) | 0.83 | $0.239643 | $4.9B |
USD Coin (USDC) | 0 | $0.999874 | $3.0B |
Cardano (ADA) | 0.63 | $0.829836 | $1.8B |
Binance Coin (BNB) | 1.64 | $794.85 | $1.5B |
TRON | 1.04 | $0.321218 | $1.0B |
Litecoin (LTC) | 1.06 | $114.72 | $895.9M |