South Korea Jails Delio CEO for 15 Years over $49M Crypto Fraud
14 Articles
14 Articles
Cointelegraph
BITRSSDelio CEO Sentenced to 15 Years in Prison on Crypto Fraud in South Korea
According to a South Korean court, CEO Jeong Sang-ho used a fake virtual asset trading license for the Delio exchange, which he used to promote the business to users.
CEO Jeong of the virtual asset deposit service Delio was sentenced to 15 years in prison on charges of defrauding investors of funds through false advertising and guarantees of high returns. The court found him guilty of damages amounting to 70 billion won based on the illegality of the search and seizure procedures and ordered his detention in court.
Shocking: Crypto CEO Gets 15 Years in Jail as South Korea’s Crackdown Intensifies
The hammer has fallen, and it’s landed with bone-jarring force. In a development that sent ripples through the global cryptocurrency community, a South Korean court on August 13, 2026, delivered a truly staggering sentence: 15 years in prison for Jeong Sang-ho, the former CEO of crypto lending firm Delio. His crime? Embezzling a massive $49.2 million in customer assets and, to add insult to injury, submitting falsified documents in a desperate a…
South Korea Sentences Delio CEO to 15 Years, Acquits Him of Bigger Fraud Charge
A Seoul court sentenced Delio CEO Jeong Sang-ho to 15 years in prison on Wednesday over a scheme prosecutors say defrauded customers of roughly 70 billion won, about $49.2 million, in crypto assets — a shorter term than the 20 years prosecutors had sought, after the Seoul Southern District Court acquitted him of the case's primary and far larger fraud charge.The Seoul Southern District Court, presided over by Judge Jang Chan, found Jeong guilty …
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