South Korean prosecutors seek a 20-year prison sentence for former Delio CEO

Mars Finance News: The Korean prosecution has officially filed a case with the court, sentencing former CEO of the crypto platform Delio, Jeong Sang-ho, to 20 years in prison, accusing him of committing large-scale financial fraud. In the closing statement at the Seoul Southern District Court, the prosecution cited the local Economic Crime Penalty Act, directly pointing out that the suspect deliberately engaged in deception and false advertising over a long period, causing approximately 2,800 investors’ funds to be trapped and difficult to redeem. The prosecution stated that the defendant’s subjective fraudulent intent was clear, the involved losses were substantial, and he refused to cooperate with investigations and deliberately shirked responsibility afterward, continuously worsening the victims’ losses and difficulties, thus demanding strict punishment according to law.