South Korean prosecutors have asked the court to sentence Lee Jung-hoon, the former chairman Bithumb Holdings, which operates South Korean crypto exchange Bithumb, to eight years in prison on $70 million fraud charges.
The trial took place on October 25 and the verdict will be delivered on December 20, according to Yonhap.
Lee is accused of stealing $70 million from Kim Byung Gun, chairman of cosmetic surgery empire BK Group, during negotiations of a deal that would have seen Kim acquire Bithumb Holdings.
‘Enforcement 40’ for 2020
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