HomeBlockchainS Korean Prosecutors Search Golf Star Arrest Warrant

S Korean Prosecutors Search Golf Star Arrest Warrant

A gavel and block on a wooden desk against the background of a South Korean flag.
Supply: gesrey/Adobe

South Korean prosecutors have requested a court to arrest an ex-pro golfer and a prime government at Bithumb, one of many nation’s main crypto exchanges.

YTN reported that the Seoul Southern District Prosecutors’ Workplace’s Monetary Investigation Division needs to attempt golfer Ahn Seong-hyun and Lee Sang-jun (54), the CEO of Bithumb Holdings.

Prosecutors suspect that the duo might have listed tokens on the trade in trade for bribes.

Ahn, 42, turned professional in 2005 and went on to educate South Korea’s nationwide golf crew.

He additionally shot to movie star standing in 2017, when he married FinK.L’s Sung Yu-ri, a “first-generation” Okay-pop star-turned-A-listing actress.

The golfer Ahn Seong-hyun and the singer-actress Sung Yu-ri at their wedding ceremony in 2017.
Ahn and Sung at their wedding ceremony ceremony in 2017. (Supply: Slent)

However earlier this yr, prosecutors lodged an preliminary bid to arrest Ahn.

Ahn is regarded as a detailed buddy of the businessman Kang Jong-hyun, the alleged majority “owner” of Bithumb.

In April, Munhwa Ilbo reported, prosecutors claimed Ahn had abused his friendship with Kang to persuade the latter to checklist an unnamed home coin on the trade.

Investigators assume Ahn accepted a bribe from the coin’s issuer, after which persuaded Kang to push his Bithumb colleagues to checklist the token.

Kang can also be thought to have invested closely in a cosmetics model owned by Sung.

Lee, in the meantime, is accused of receiving a collection of unlawful funds from Kang to assist facilitate the token’s itemizing.

Per Joongang Ilbo, Kang has advised investigators he paid Lee a complete of $3.8 million between 2021 and 2022.

A graph showing trading volumes on the Bithumb crypto exchange over the past 12 months.
Buying and selling volumes on the Bithumb crypto trade over the previous 12 months. (Supply: CoinGecko)

Prosecutors have been making an attempt to safe an arrest warrant for Ahn since April, however have often been annoyed of their efforts.

Kang, in the meantime, is at present being prosecuted for allegedly manipulating inventory and cryptoasset costs.

He additionally faces fees of embezzlement.

Ahn and Lee will now face a warrant evaluate listening to on the afternoon of September 1 at a department of the Seoul Southern District Courtroom.

Bithumb’s possession construction has become the subject of public scrutiny since an exposé about Kang was revealed by the South Korean media outlet Dispatch final yr.

Prosecutors have additionally investigated bribes-for-coin itemizing allegations at Bithumb rivals, together with Coinone.

LATEST POSTS

The Way forward for Bitcoin: Improvements, Challenges, and Alternatives

Bitcoin, the pioneering cryptocurrency, has regularly developed since its inception in 2009. As the primary decentralized digital foreign money, it has paved the best way...

ETH, SOL rise as crypto traders eye Solciety (SLCTY)

ETH and SOL costs jumped above $3,300 and $150 on Monday as cryptocurrencies rose.The upside follows an tried assassination of Donald Trump.As cryptocurrencies...

Zetly: Breakthrough in fan engagement and the economic system of sports activities, because of the NFT

This publish is a visitor contribution by Zetly All in One Sport Fan Engagement NFT Platform. Keep up to date with Zetly and get details about...

Web3 Infrastructure ChromaWay Companions With EU to Develop Sustainable Blockchain Options

Key highlights:ChromaWay’s RBN Eco showcased blockchain options for Digital Product Passports and Mental Property Rights.The expertise behind these options, Chromia, is advancing to commercialization in...

Most Popular

Please enter CoinGecko Free Api Key to get this plugin works.