Delio CEO Sentenced to 15 Years for $180M Crypto Fraud

South Korean court sentences Delio CEO Jeong Sang-ho to 15 years for $180M fraud, citing severe crimes and evasion of accountability since 2023 withdrawal halt.

Woofun AI reports that a South Korean court has issued a first-instance verdict sentencing Delio CEO Jeong Sang-ho to 15 years in prison for cryptocurrency fraud involving approximately 250 billion won. The 11th Criminal Court of the Southern District of Seoul determined that Jeong's actions were severe, noting his attempts to shift responsibility to other entities while evading personal accountability. This ruling arrives roughly three years and two months after Delio suspended user withdrawals in June 2023.