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South Korean court sentences Delio CEO to 15 years in prison

2026.08.13 - 19:35
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TechFlow news, August 14, according to Cointelegraph, the Seoul Southern District Court in South Korea sentenced Delio cryptocurrency platform CEO Jeong Sang-ho to 15 years in prison on charges including 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 sought a 20-year sentence, but the court dismissed the major fraud charges involving approximately 250 billion won and affecting approximately 2,800 victims, citing that the relevant evidence was illegally collected. The court also ordered Jeong Sang-ho detained due to flight risk. Delio suspended withdrawals in June 2023 and declared bankruptcy in November 2024.

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