South Korea sentences Delio CEO Jeong Sang-ho to 15 years in prison
Source：
www.theblock.co
According to The Block, the Seoul Southern District Court sentenced cryptocurrency platform Delio CEO Jung Sang-ho to 15 years in prison for defrauding customers of approximately 70 billion won (approximately $49.2 million) in crypto assets and forging documents to register as a Virtual Asset Service Provider. Prosecutors had previously requested a 20-year sentence, but the court dismissed the main fraud charges involving approximately 250 billion won (approximately $175.6 million) affecting about 2,800 victims, citing that evidence obtained from searching the server operator was illegally collected. The court also ordered his detention citing flight risk. Delio had suddenly suspended withdrawals in June 2023 and declared bankruptcy in November 2024.
