Delio CEO in South Korea sentenced to 15 years in first instance for $180 million fraud case

According to Digital Asset, the 11th Criminal Division of the Seoul South District Court has made a first instance judgment on Delio CEO Jeong Sang ho's cryptocurrency fraud case involving approximately $180 million, sentencing Jeong Sang ho to 15 years in prison. The court stated that Jeong Sang ho committed serious crimes and continued to shift responsibility onto other companies while attempting to evade responsibility. The ruling is about three years and two months after Delio suspended withdrawals in June 2023.