Prosecutors have offered inside Bithumb paperwork as new proof of their case in opposition to the alternate’s former CEO, Lee Sang-joon. The paperwork, dated Could 10, 2021, have been submitted to a South Korean court docket the place Lee is dealing with prices associated to cryptocurrency listings on the platform.
The filings recommend that Lee, alongside former Bithumb Korea CEO Heo Baek-young and the previous chairman of Bithumb’s token itemizing overview committee, might have been concerned in selections concerning the itemizing of Dogecoin (DOGE) and Klaytn (KLAY).
Although the doc creator’s id stays confidential, Heo claimed the committee’s former chairman might have written it.
Lee Denies Accusations, however Paperwork Solid Doubt
Lee has since denied the accusations, stating he lacked the authority to make itemizing selections. Nevertheless, the paperwork forged doubt on his claims, indicating he might have performed a task within the itemizing course of.
The investigation into Lee started in March 2023 when South Korean authorities probed bribery allegations associated to token listings on Bithumb. Lee was indicted with out detention in September 2023.
Earlier this 12 months, the Seoul Excessive Court docket acquitted Lee in a multimillion-dollar fraud case. The court docket dominated that he was not responsible of defrauding Kim Byung-gun of 110 billion Received ($82 million) throughout acquisition negotiations. This adopted an earlier acquittal on comparable prices, together with allegations of looking for an upfront price for a failed BXA token itemizing on Bithumb.
In the meantime, Bithumb’s de facto proprietor, Kang Jong-hyun, can be dealing with a separate trial. Together with two different executives, Kang faces prices of embezzlement, fraudulent transactions, and breach of obligation. Experiences point out the accused have admitted to the fees.
Learn additionally: Bithumb CEO Investigated for Bribe in Change for False Listings
Kang’s sister, Kang Ji-yeon, a serious shareholder in Bithumb-affiliated corporations, has additionally been accused of inventory value manipulation. In a now-deleted assertion, she defended her brother, dismissing the fees as “unconfirmed and one-sided.”
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