Former CEO of Crypto Exchange Bithumb Sentenced to Two Years in Prison: Report
Former Bithumb CEO Lee Sang-jun has reportedly been sentenced to prison after being found guilty of receiving cash and gifts to engage in a fraudulent token listing scheme.
Local Korean news outlet The Hankyoreh reports that the Seoul Southern District Court has sentenced the 55-year-old to two years behind bars and ordered him to pay a fine of 52 million won ($35,367) for receiving money and lavish items as bribes from businessman Kang Jong-hyun.
Kang allegedly shelled out 3 billion won (roughly $2 million) in cash and over $272,000 worth of luxury watches, designer bags and exclusive restaurant membership cards to get a coin listed on Bithumb. Kang received a sentence of one year and six months of jail time for breach of…
