Former Chair of Bithumb Declared Not Guilty
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An editor at Coincrop
04 Jan 2023 | 2 min read
fter a lengthy legal battle, Lee Jung-Hoon, former chair of Bithumb, was recently declared not guilty by the Korea Economic Daily.
The South Korean crypto exchange Bithumb's former chair, Lee Jung-Hoon, has been acquitted of the Criminal Agreement by the Seoul Central District Court's 34th Division.
In October 2018, Jung-Hoon faced serious allegations of infringing the Act on the Aggravated Punishment of Specific Economic Crimes while negotiating for Bithumb's acquisition from Kim Byung-Gun. If convicted, he could have been jailed for up to eight years.
In mere days following the unfortunate news of Bithumb's biggest shareholder executive passing away, a ruling was made that he had allegedly committed embezzlement and stock-price manipulation.
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