“The former CEO of Bithumb Holding, Ahn Seong-hyung, was found guilty of fraud and was sentenced to 4.5 years in prison. The decision was made by the Seoul Southern District Court on December 26, local media reported. According to the case file, in September-November 2021, Ahn Seong-hyung together with another ex-CEO of Bithumb Holdings, Lee Sang-joon, received a request from the alleged beneficial owner of Bithumb, Kang Jeong-hyung, to list an unnamed […]”, — write: businessua.com.ua
Former general director Bithumb Holding Ahn Sung Hyun was found guilty of fraud and was sentenced to 4.5 years in prison. The decision was made by the Southern District Court on December 26 Seoul, local media write.
According to the case file, between September and November 2021, Ahn Seong-hyung together with another ex-CEO of Bithumb Holdings, Lee Sang-joon, received a request from the alleged beneficial owner of Bithumb, Kang Jeong-hyung, to list an unnamed coin on the exchange.
As a reward, the latter allegedly gave them 3 billion won ($2.04 million) in cash, two wristwatches worth 400 million won (over $273,000) and provided membership benefits at a restaurant. In addition, Ahn conned Kan for an additional 2 billion won ($1.3 million). The court proved the defendant guilty of accepting a bribe.
Lee Sang-joon received two years in prison with a forfeiture of 52 million won (~$35,500), while Kang Jung-hyun was sentenced to up to a year and a half in prison. This is because Kang admitted to receiving watches and handbags from Lee in exchange for the coin listing.
The representative of the coin issuer was found not guilty in the case.
It will be recalled that in September 2020, the police conducted a series of searches at the offices of Bithumb-related companies within the framework of the alleged fraud involving the BXA token sale for $25 million.
At the same time, the law enforcement officers summoned the current CEO of the exchange and the beneficiary of Bithumb Holdings, Lee Chong-hun, for questioning. He faced up to eight years in prison on charges of defrauding investors. However, he was later acquitted.
In January 2023, the Seoul Prosecutor’s Office issued an arrest warrant for the alleged owner of the Bithumb exchange, Kang Jeong-hen, who is suspected of embezzlement and manipulation of the share price of several affiliated firms.
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