Virtual Asset Withdrawals Suspended Without Notice
"Difficult to See Concern for Evidence Tampering"
The CEO of Delio, a deposit service operator that sparked controversy by abruptly halting virtual asset withdrawals without notice, has avoided detention. The court stated that he has been cooperating sincerely with the investigation authorities' summons and that there is little concern about the destruction of evidence.
On the 25th, Han Jeong-seok, Chief Judge of the Criminal Division 2 at the Seoul Southern District Court, dismissed the detention warrant after a pre-arrest hearing for A (51), who is accused of fraud under the Act on the Aggravated Punishment of Specific Economic Crimes.
Chief Judge Han stated, "There appears to be considerable room for the suspect to dispute the existence and details of the deceptive acts and the extent of damages, and considering the evidence already secured, it is difficult to see a risk of evidence destruction."
He added, "The suspect has sincerely responded to the investigation authorities' summons so far and has pledged to continue cooperating sincerely with future summons from both the investigation authorities and the court."
According to the prosecution, A is accused of defrauding approximately 2,800 victims of virtual assets worth about 245 billion KRW from August 2021 to June last year.
Delio is a company registered as a Virtual Asset Service Provider (VASP) with financial authorities and operated a deposit service offering up to 10.7% annual interest. However, it suddenly suspended withdrawals on June 14 last year. Delio is currently undergoing rehabilitation procedures.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
