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South Korean prosecutors seek a 20-year prison sentence for former Delio CEO
Golden Finance reports that on April 30, the Korean prosecution has requested the court to sentence the former CEO of Delio to a heavy prison term of 20 years, alleging his involvement in large-scale fraud against thousands of investors.
In the closing argument at the Seoul Southern District Court on Thursday, the prosecution, citing the Act on the Aggravated Punishment of Specific Economic Crimes, demanded that the court sentence Jeong Sang-ho to imprisonment, accusing him of “deliberate deception and false advertising,” which resulted in approximately 2,800 victims being unable to recover their funds.
The prosecution stated: The defendant’s proactive fraudulent actions and false advertising caused numerous victims, with significant losses. They also added that Jeong Sang-ho’s evasion of responsibility and uncooperative attitude further exacerbated the victims’ suffering.