TechFlow news, according to Yonhap News Agency, Seoul Southern District Court has granted bail to Won Young-sik (62), former chairman of Chorokbaem Group, who was indicted on charges of involvement in stock price manipulation related to Bithumb's affiliated companies.
The court set bail conditions including appearance at court-designated times and locations, submission of a written pledge not to destroy evidence, and a 300 million won bail bond.
In addition, he is required to attend trial hearings, prohibited from contacting witnesses or individuals related to the case, subject to residence restrictions, banned from leaving the country without permission, and mandated to wear an electronic device for real-time location tracking.
It is reported that he was arrested and indicted in July over allegations that between December 2021 and last July, he granted free call options on convertible bonds (CBs) held by Vident and Bucket Studio—affiliated companies of Bithumb—to firms invested in by his children, causing approximately 58.7 billion won in damages to Bithumb’s affiliates.
