A South Korean court has sentenced Delio CEO Jeong to 15 years in prison over a $50 million crypto fraud case, five years short of the 20-year sentence prosecutors had sought. The gap came down to one key charge the judge dismissed.
Prosecutors wanted 20 years, the judge gave 15 — the five-year gap boiled down to one major charge that was dismissed.
According to The Block, a South Korean court has handed down a 15-year prison sentence to Jeong, CEO of crypto lending platform Delio, after finding him guilty in connection with a $50 million crypto fraud case.
The sentence came in lighter than the 20 years prosecutors had originally sought, as the presiding judge ruled one of the main charges against him not guilty, leaving the remaining charges to form the basis of the 15-year term.
The report did not further detail the timeline of the case, the specific types of transactions involved, or the nature of the charge that was dismissed — further details remain to be clarified.
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