Delio CEO gets 15 years in first ruling over $180M crypto fraud case

A South Korean court sentenced Delio CEO Jeong Sang-ho to 15 years in prison in a first-instance ruling over cryptocurrency fraud charges tied to about 250 billion won, according to Digital Asset. The 11th Criminal Division of the Seoul Southern District Court said the offense was serious and that Jeong had consistently shifted responsibility to other companies while trying to evade accountability, Digital Asset reported. The ruling came about three years and two months after Delio halted withdrawals in June 2023.