Delio CEO Gets 15-Year Sentence for Crypto Scandal Involving $49M

South Korean prosecutors initially sought 20 years in prison for Delio CEO Jeong Sang-ho, but he received a 15-year sentence for his role in a crypto fraud case involving nearly 70 billion Korean won ($49.2 million) in customer assets.

The Seoul Southern District Court handed down the sentence on August 13 after finding Sang-ho guilty of embezzling funds from numerous victims. The court rejected some of the prosecution's evidence, citing concerns that the search and seizure of a server were conducted unlawfully.

The court acknowledged that external factors contributed to the case and noted that Sang-ho did not have a prior criminal record involving a punishment greater than a fine.