Bang Mo (30), the major shareholder of Biend S (B&S) Holdings, known as the starting point of the withdrawal suspension incident involving domestic virtual asset management companies Haru Invest and Delio, was sentenced to 10 years in prison.
According to the legal community on the 14th, the Criminal Division 13 of the Seoul Southern District Court sentenced Bang to 10 years in prison the day before on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (fraud).
The court ruled that Bang falsely informed the two companies that the assets, which were frozen on the exchange at the time of FTX's bankruptcy, had been transferred to another exchange, and received virtual assets worth about 60 billion won.
Earlier, Bang was accused of defrauding about 60 billion won from Haru Invest and Traum Infotech after the FTX bankruptcy incident in November 2022. Traum Infotech is a company that entrusted assets from Delio to B&S.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
