Bithumb ex-chair is reportedly off the hook for million-dollar fraud charges.
not guilty on Jan. 3 by the 34th Division of the Criminal Agreement of the Seoul Central District Court.the Act on the Aggravated Punishment Of Specific Economic Crimes due to fraud.allegedly defrauded 100 billion
won during negotiations for the acquisition of Bithumb from Kim Byung-gun, chairman of the cosmetic surgery company BK Group. Jung-hoon could’ve faced an 8-year sentence had he been found guilty. According to the local press, in its official response to the ruling, Bithumb said it respects the court’s decision.
The exchange also clarified that it is under “professional managers” and the former chairman is not involved in current operations.of embezzlement and manipulation of stock prices.
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