South Korean Prosecutors Seek 20-Year Sentence for Delio CEO in $190M Fraud

2026-04-30 16:11

South Korean prosecutors are pursuing a 20-year prison sentence for Delio CEO Chung Sang-ho, accused of orchestrating a $190 million cryptocurrency fraud. The charges involve the alleged theft of approximately 250 billion Korean won from around 2,800 victims. Delio, a crypto lending platform, suspended withdrawals on June 14, 2023, after attracting investors with promises of high returns. Prosecutors claim that Chung engaged in fraudulent activities and false advertising, leading to substantial financial losses for investors. They also allege that Chung has been uncooperative with the investigation. The court is expected to deliver its first-instance verdict on July 16.

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