Former Bithumb Chairman May Face Eight Years in Prison for Alleged $70M Fraud

[Google News Bot]

Lee Jung-hoon, the former chairman of Bithumb Holdings, the company that operates South Korea’s second-largest cryptocurrency exchange, could face a maximum sentence of eight years in prison if found guilty on charges related to an alleged fraud worth 100 billion won, or roughly $70 million. The trial took place on October 25 at the Seoul District Court, with the verdict to be delivered on December 20, per local media reports. According to the prosecution, Lee allegedly received the funds from Kim Byung-gun, the founder of the cosmetic surgery company BK Group in October 2018 while negotiat ...

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