Bithumb ex-chairman could face 8 years prison over alleged $70M fraud
The sentencing hearing is set for Dec. 20 and could see the former chairman of South Korean crypto exchange Bithumb behind bars for a maximum of eight years if found guilty. The former chairman of the South Korean cryptocurrency exchange Bithumb, Lee Jung-hoon, could face a possible maximum sentence of eight years in prison if found guilty on charges related to an alleged fraud worth $70 million.Local prosecutors asked the Seoul District Court for the sentence on Oct. 25, with the sentencing hearing will be held on Dec. 20 according to a report from Yonhap News Agency.It’s alleged that....
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If convicted, the two men face a maximum of 10 years in prison, caning and fines.
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