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South Korean prosecutors seek a 20-year prison sentence for former Delio CEO
BlockBeats News, April 30 — South Korean prosecutors have requested the court to sentence former Delio CEO to a heavy 20-year prison term, alleging his involvement in large-scale fraud against thousands of investors.
In closing arguments at the Seoul Southern District Court on Thursday, prosecutors, citing the Serious Economic Crime Penalty Act, demanded that Jeong Sang-ho be sentenced to imprisonment, accusing him of “deliberate deception and false advertising,” which caused approximately 2,800 victims to be unable to recover their funds.
Prosecutors stated: “The defendant’s proactive fraud and false advertising caused a large number of victims, with significant losses.” They added that Jeong Sang-ho’s evasion of responsibility and uncooperative attitude further intensified the victims’ suffering.