According to the allegations, Former head of Bithumb About 70 million dollars has been defrauded from Kim Byung Gun, the head of BK cosmetic surgery company.
Sentencing session Former head of Bithumb It will be held on December 20. former boss Bithumb crypto exchange If found guilty, he will be imprisoned for a maximum of 8 years.
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The possibility of imprisonment of the former head of Bithumb
Lee Jung-hoon, the former head of cryptocurrency exchange Bithumb, could face up to eight years in prison if convicted of a $70 million fraud.
According to Yonhap news agency (Yonhap), local prosecutors on October 25 requested the Seoul District Court to sentence Lee Jong-hoon. The sentencing hearing will be held on December 20.
Jung Hoon is said to have defrauded Kim Byung Gun, the head of cosmetic surgery company BK Group, of 100 billion won ($70 million) during Gun’s negotiations to buy the Bithumb exchange.
Termination of BXA token transaction
Gunn claimed to have paid Jung Hoon $70 million as a down payment to buy the exchange. This payment is contingent upon the listing of the BXA token created by the Allicance blockchain exchange on Bithumb. The proceeds from the listing of the BXA token will be used to help pay for the purchase of the exchange. Further, the Bithumb exchange did not list the BXA token and the transaction was lost.
“The structure of this case is a typical stock sale contract,” said Jung Hoon’s defense lawyer. In his final statement in court, Jung Hoon said, “I am very sorry for making things difficult for the company’s employees and causing social pressure.”
The parliamentary hearing was held on October 6. The topic of this meeting Destruction of Terra’s $40 billion ecosystem Was. Jung Hoon did not attend the parliament meeting and cited panic disorder as the reason for his absence.
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Source: cointelegraph