South Korean Prosecutors Seek to Sentence Delio's Former CEO to 20 Years in Prison

BlockBeats News, April 30th, the South Korean prosecutors have requested the court to sentence Delio's former CEO to 20 years in prison, alleging that he was involved in a large-scale fraud against thousands of investors.

In the closing arguments at the Seoul Southern District Court on Thursday, the prosecution, citing the "Specific Economic Crime Aggravated Punishment Act," asked the court to sentence Jeong Sang-ho to a prison term, accusing him of "intentional deception and false advertising," which led to approximately 2,800 victims being unable to withdraw their funds.

The prosecution stated: "The defendant's active fraudulent behavior and false advertising have caused a large number of victims and massive losses." They further added that Jeong Sang-ho's evasion of responsibility and lack of cooperation had exacerbated the victims' suffering.