Jeong Sang-ho, CEO of crypto firm Delio, has been sentenced to 15 years in prison by the Seoul Southern District Court in a first-instance ruling over a cryptocurrency fraud case involving approximately 250 billion won (about $180 million), according to Digital Asset. Criminal Division 11 of the court delivered the verdict, finding that Jeong's crimes were serious and that he had shifted responsibility onto other companies while trying to evade accountability. The sentence comes about three years and two months after Delio suspended withdrawals in June 2023.
The Seoul Southern District Court has sentenced Jeong Sang-ho, CEO of Delio, to 15 years in prison in a first-instance ruling over a cryptocurrency fraud case worth about 250 billion won (roughly $180 million), according to Digital Asset.
Criminal Division 11 of the court handed down the verdict. The bench said Jeong's crimes were serious, and that he kept shifting blame onto other companies while trying to evade responsibility.
The ruling lands about three years and two months after Delio suspended withdrawals in June 2023.
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