Bithumb's former chair Lee Jung-Hoon found not guilty: Korea Economic Daily
TL;DR The former chair of the South Korean crypto exchange Bithumb, Lee Jung-Hoon, was reportedly found not guilty by the Seoul Central District Court's 34th Division of the Criminal Agreement. This ruling comes less than one week after the executive of Bithumb's largest shareholder was reportedly found dead and accused of embezzlement and stock-price manipulation.
The former chair of the South Korean crypto exchange Bithumb, Lee Jung-Hoon, was reportedly found not guilty by the Seoul Central District Court's 34th Division of the Criminal Agreement.
Jung-Hoon was accused in October 2018 of fraudulently violating the Act on the Aggravated Punishment of Specific Economic Crimes while negotiating for Bithumb's acquisition from Kim Byung-Gun — allegations that could have resulted in an eight-year prison sentence.
The ruling comes less than one week after the executive of Bithumb's largest shareholder was reportedly found dead. The executive was accused of embezzlement and stock-price manipulation.
Updated for clarity.