Lee Hyung-soo, CEO of Haru Invest, was found not guilty of fraud by the Seoul Southern District Court, which cited external factors like FTX’s collapse as contributors to the platform’s issues, rather than internal fraud.
The Court acknowledged management negligence but ruled it did not equal criminal deception. While the co-CEOs were cleared, COO Kang Mo was convicted for embezzlement and sentenced to two years behind bars.
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