Crypto Bank Collapse and 15-Year Sentence | Business and Finance News

Crypto platform Delio’s founder, Jeong Sang-ho, just got 15 years in prison — less than prosecutors’ requested 20 — for orchestrating a massive fraud that stole 70 billion won from customers and left them locked out of their funds. He allegedly obtained his license through deception and ran the platform like a bank without proper authorization, then blamed bankruptcy. A major legal blow came when the court ruled key digital evidence was tainted due to an unlawful search, forcing prosecutors to rely on weaker charges. The court also considered mitigating factors, including his clean criminal record, while noting Delio’s collapse after abruptly halting withdrawals and eventually filing for bankruptcy. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/d36d0a40dcd94bce