Delio CEO of Korea 15 years in first instance for $180 million fraud

According to Digital Asset, the Criminal Chamber 11 of the South Seoul District Court of Korea handed down a first-instance judgement in the case of Delio CEO Jeong Sang-ho, involving approximately $180 million in encrypted currency fraud, sentencing Jeong Sang-ho to 15 years ' imprisonment. The court stated that the crime committed by Jeong Sang-ho was serious and that, while attempting to evade responsibility, it continued to shift responsibility to other companies. The judgement was about three years and two months before Delio suspended withdrawals in June 2023。