Former Bithumb Chairman Faces Eight-Year Prison Sentence For $85 Million Fraud | Bitcoinist.com
South Korean prosecutors have requested an eight-year prison sentence for Lee Jung-hoon, the former chairman of Bithumb....
- South Korean prosecutors have requested an eight-year prison sentence for Lee Jung-hoon, the former chairman of the board of directors of Bithumb, the country's second-largest cryptocurrency exchange.
- Lee is charged with fraud and violating laws and regulations related to economic crimes.
- The prosecution claims that Lee deceived BXA (Bithumb's native coin) by falsely promising co-management and listing assistance to BK Group Chairman Kim Byung-gun.
- Lee's actions allegedly resulted in approximately $85 million in damages and were aimed at evading financial regulations.
- The defense argues that there are inconsistencies in the victim's statements and that President Kim was aware of the listing progress of BXA coin.
The article presents a negative sentiment towards Lee Jung-hoon, as he is facing a prison sentence for fraud and violating economic crime laws. The prosecution claims that he deceived others and caused significant damages.