Korea Supreme Court confirms 10-year sentence for B&S shareholder in Haru Invest, Delio collapse

The Supreme Court of South Korea has upheld a 10-year prison sentence for Mr. Bang, a major shareholder of B&S Holdings. He was convicted for his role in the suspension of withdrawals at Haru Invest, a digital asset management platform, and the now-bankrupt crypto lender Delio. According to Digital Asset, he defrauded Haru Invest and Traum Infotech, a blockchain-based trading system developer, of approximately 60 billion won (about $44.22 million) following the collapse of the crypto exchange FTX in November 2022.