Lee Jeong-hoon, the previous chair of Bithumb, certainly one of South Korea’s main cryptocurrency exchanges, is on the heart of a authorized battle and may face an eight-year jail sentence, with a verdict scheduled for Jan. 18, 2024.
In accordance to Korean native media reviews, prosecutors contend that Lee supposed to revamp Bithumb’s governance to achieve from alternate tokens, circumventing monetary laws. The case has been ongoing since October 2018, when the previous chair allegedly defrauded 100 billion received ($70 million) throughout negotiations for the acquisition of Bithumb from Kim Byung-gun, chair of the beauty surgical procedure firm BK Group. Prosecutors declare Lee knew about challenges within the BXA token itemizing however didn’t disclose it to Kim. Regardless of itemizing points, Lee purportedly acquired funds with out informing Kim in regards to the determination to not record the BXA token.
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