According to reports by the Yonhap News Agency, South Korean prosecutors this week, during closing arguments at the court of first instance at the Seoul Central District Court, requested a 20-year prison sentence for Jeong Sang-ho (Jeong Sang-ho), CEO of the crypto deposit service platform Delio. The prosecutors said that Jeong Sang-ho, through active deceptive conduct and false advertising, caused about 2,800 investors to be unable to withdraw their funds, with the amount involved totaling as much as 250 billion Korean won (about $169 million). Jeong Sang-ho was indicted in April 2025 on charges of embezzlement, and the first-instance verdict in the case is expected to be announced on July 16. (Cointelegraph)

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