Prosecutors seek 20-year sentence for Delio CEO in $181M fraud case

South Korean prosecutors have requested a 20-year prison sentence for the CEO of Delio, a crypto deposit and interest service operator, who was indicted on charges of embezzling customer assets, according to Yonhap News. The case is linked to a withdrawal halt affecting 250 billion won ($181.5 million). Prosecutors argued that the defendant's active deception and false advertising resulted in numerous victims and massive damages. They added that the CEO has aggravated the victims' suffering by consistently evading responsibility and maintaining an uncooperative attitude, even as victims attend every court hearing to demand a severe punishment.