EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

Lee Jung-hoon, Gets Jail Term For Alledged Fraud

Admin by Admin
October 26, 2022
in Crypto News
0
Bitcoin Set To Register Its Best January In A Decade
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter
MMC MMC

The South Korean news agency Yonhap, the prosecutors in South Korea are seeking Lee Jung-hoon. He is the former head of the cryptocurrency trading company Bithumb, to serve up to eight years in jail for alleged fraud.

This fraud case involves selling Bithumb’s BXA tokens as part of Singapore-based BK Group’s bid to buy the crypto exchange in 2018. As part of the purchase process, Lee presold BXA tokens worth $25 million to BK Group. These coins were also sold to investors for around $45 million.

Bithumb, on the other hand, did not list BXA, which reportedly resulted in large losses for investors. These investors filed a fraud lawsuit against Lee and Kim Mo, the chairman of the BK Group.

Previously, South Korea’s investigation agency ruled that Kim did not have a case to answer. Investigators decided that Kim was just as much of a victim as the others.

Kim’s shares in Bithumb are also said to have been seized by the Seoul Central District Court on Wednesday. m The seizure was reportedly overseen by the accounting firm Samjong KPMG.

Authorities are requesting that Lee be convicted of fraud under the country’s Act on the Aggravated Punishment of Specific Economic Crimes. “The amount of damage is very large, and the damage is especially great for ordinary coin investors,” said the prosecution at a hearing before the Seoul Central District Court.

Lee’s defense, on the other hand, claimed that the token sale followed a typical stock sale contract. The defense also claimed that BK Group’s Kim was attempting to avoid criminal prosecution for his role in the BXA token sale debacle.

 

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: CryptocurrencyfraudLee Jung-hoon.
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

Favourable Market Condition Pushes Ethereum Past $1,400 price mark

Next Post

Filecoin launches Web3 data-storage Solution

Admin

Admin

Next Post
filecoin price

Filecoin launches Web3 data-storage Solution

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
USDD Depegs

USDD Stablecoin Depegs To $0.96, Tron (TRX) Dumped

December 12, 2022
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0
What is Defi?

Defi (Decentralized Finance)

0
Differences between Axie Infinity and Decentraland

Axie Infinity and Decentraland: Features and Differences

0
AUD USD pair

AUD/USD falls from 7-month highs

February 2, 2023
What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

February 1, 2023
Tesla Lost Millions In Crypto

Tesla Lost Millions In Crypto

February 1, 2023

Recent News

AUD USD pair

AUD/USD falls from 7-month highs

February 2, 2023
What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

February 1, 2023
Tesla Lost Millions In Crypto

Tesla Lost Millions In Crypto

February 1, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Reviews
  • Stocks

Recent News

AUD USD pair

AUD/USD falls from 7-month highs

February 2, 2023
What is Wiki Cat

What is Wiki Cat (WKC)?

February 1, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>