Delio CEO Jeong Sang-ho appeals 15-year prison sentence

Delio CEO Jeong Sang-ho has appealed a 15-year prison sentence for fraud related to approximately 70000 million won in digital assets. Jeong's legal team filed the appeal with the Seoul Southern District Court on August 14, following the first trial ruling on August 13. The case was recorded in the South Korean Supreme Court’s case search system on August 16. Delio, a digital-asset deposit platform, suspended withdrawals in June 2023, leading to significant public backlash and numerous victims. Jeong was indicted on fraud charges, with the first trial verdict issued two years and three months later. The appeal is likely to delay a final court decision. The 11th Criminal Division of the Seoul Southern District Court, led by Judge Jang Chan, criticized Delio for promoting the company as stable while deflecting responsibility onto other firms.

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