Bithumb's former chair Lee Jung-Hoon found not guilty: Korea Economic Daily
Quick Take
- Bithumb’s former chair, Lee Jung-Hoon, was reportedly found not guilty by the Seoul Central District Court.
- Jung-Hoon was accused in October 2018 of fraud related to the crypto exchange’s acquisition.
The former chair of the South Korean crypto exchange Bithumb, Lee Jung-Hoon, was reportedly found not guilty by the Seoul Central District Court's 34th Division of the Criminal Agreement.
Jung-Hoon was accused in October 2018 of fraudulently violating the Act on the Aggravated Punishment of Specific Economic Crimes while negotiating for Bithumb's acquisition from Kim Byung-Gun — allegations that could have resulted in an eight-year prison sentence.
The ruling comes less than one week after the executive of Bithumb's largest shareholder was reportedly found dead. The executive was accused of embezzlement and stock-price manipulation.
Updated for clarity.
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