CEO of Haru Invest Sentenced to 23 Years in Prison in Appeal Trial

The CEO of Haru Invest, Mr. Lee, who is facing fraud charges amounting to 880 billion KRW, has been sentenced to 23 years in prison in the appeal trial as well. On the 14th, during the appeal trial held at the 7th Criminal Division of the Seoul High Court, the prosecution requested a 23-year prison sentence for Mr. Lee, the same as in the first trial. The sentencing date for the appeal trial is scheduled for December 16 at 2 PM. Mr. Lee was indicted for allegedly defrauding customers of approximately 880 billion KRW in virtual assets after abruptly halting withdrawals from Haru Invest in June 2023. Co-defendants, co-CEOs of Blockcrafters, Mr. Park and Mr. Song, were also sentenced to 20 years in prison, the same as in the first trial. They were initially detained and indicted but were released on bail in July 2024, and were all acquitted in the first trial. The prosecution also requested a 15-year prison sentence for Mr. Kang, COO of Blockcrafters, the same as in the first trial. Mr. Kang was acquitted of fraud charges under the Specific Economic Crimes Aggravated Punishment Act but was found guilty of embezzlement and received a suspended sentence. The appeal court initially set the sentencing date for April, but it was postponed due to a change in the court panel.

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