Sentencing

Hong Kong

2026-09-19 08:01:35

Former Hong Kong bank executive sentenced to four years over fake letters of credit and crypto bribes

A former bank executive in Hong Kong has been sentenced to four years in prison over a case involving $1.6 billion in fake letters of credit and $470,000 worth of cryptocurrency bribes. According to the report cited by Techub from Cointelegraph, the conduct took place between 2017 and 2019. The executive was accused of providing fraudulent letters of credit to clients so they could obtain loans, while also accepting bribes paid in cryptocurrency. The case ties a large-scale loan-related fraud scheme to digital asset payments used as bribes. No further details on the individual’s identity or the specific cryptocurrencies involved were disclosed in the input.

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South Korea

2026-08-13 14:40:34

Delio CEO Sentenced to 15 Years in South Korean Crypto Deposit Fraud Case

Jeong Sang-ho, CEO of South Korean crypto lending platform Delio, was sentenced to 15 years in prison by the Seoul Southern District Court on Aug. 13 in a fraud and embezzlement case, according to The Block. The court ordered Jeong remanded into custody over flight risk; prosecutors had sought a 20-year term. He was convicted of using falsified documents to obtain a virtual asset service provider (VASP) registration and of misappropriating user assets. The sum tied to the conviction is roughly 70 billion won (about $49.2 million). A separate major fraud charge, involving about 2,800 victims and 250 billion won (around $175.6 million), was acquitted. Delio abruptly halted withdrawals in June 2023 and declared bankruptcy in November 2024, leaving many depositors' assets frozen. The verdict shows South Korea is stepping up enforcement against crypto operators that collect deposits improperly. For depositors, it establishes criminal liability, yet how much of the frozen funds can be recovered remains another long process.

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Delio

2026-08-13 06:20:57

Delio CEO Jeong Sang-ho Sentenced to 15 Years Over $180M Crypto Fraud

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.

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France

2026-08-13 04:17:08

Somme House Robbed Three Times Over Ex-Owner's Crypto Fortune; Two Sentenced

Two men have been sentenced over the third break-in at a house in France's Somme department, where the current owner was targeted by three separate groups of intruders in less than a month, according to Protos, as reported by BlockBeats on Aug 13. The attacks were linked to the previous owner, who had become wealthy through cryptocurrency. The former resident's financial information was suspected of being leaked on the dark web, and criminals apparently came to the property demanding cryptocurrency ransoms. The current owner, however, does not actually hold the relevant crypto assets. During one of the intrusions, the victim was tied up and beaten. The two men involved in the third incident have now been sentenced to three years and 18 months in prison, respectively. The house was hit three times in under a month, and each group of intruders was reportedly seeking a cryptocurrency ransom. The sentences were handed down recently, according to the same report.

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Guo Wengui

2026-07-24 05:40:41

Guo Wengui Sentenced to 30 Years for $1B Crypto Fraud

Chinese exile Guo Wengui was sentenced to 30 years in prison for a $1 billion crypto scam via Himalaya Exchange, with nearly $900 million forfeited.

760

Bitcoin theft

2026-07-23 20:20:15

California Man Gets 70 Months for $263 Million Bitcoin Theft

A California man was sentenced to 70 months for stealing over 4,100 Bitcoin worth $263 million. The sophisticated syndicate used hackers and impersonators, spent proceeds on luxury cars and mansions. Three new suspects were added.

520

cryptocurrenc

2026-07-23 06:40:14

CEO of $200M Bitcoin Ponzi Scheme Sentenced to 20 Years in Prison

A U.S. federal court sentenced Ramil Palafox, CEO of Praetorian Group, to 20 years for a Bitcoin Ponzi scheme that defrauded over 90,000 investors of $200 million, with funds splurged on luxury cars, designer goods, and real estate.

600

Miles Guo

2026-07-23 02:45:14

Miles Guo Sentenced to 30 Years for $1 Billion Crypto Fraud as U.S., China Tighten Enforcement

U.S. District Judge Analisa Torres handed Miles Guo 30 years in prison and ordered $889 million forfeiture over a $1 billion fraud involving Himalaya Exchange and H Coin. SEC also filed civil charges. China separately prosecuted 1,200 people for crypto-related money laundering.

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