Search results for Act on the Aggravated Punishment of Specific Economic Crimes
Crypto
Delio chief gets 15 years in jail in coin withdrawal suspension case
A Seoul court sentenced the head of crypto deposit-and-interest service Delio to 15 years in prison at first instance for fraud and other charges over allegedly diverting customers\' virtual assets. The court said the defendant swindled large sums from many victims and had not been forgiven by those who suffered serious economic losses, but considered external factors that triggered the case and the lack of prior punishment beyond fines. The court convicted him on a reduced set of charges.
Games & Commerce
Naver-Dunamu merger hurdle eases as committee recommends amending enforcement decree
South Korea\'s Presidential Regulatory Reform Committee\'s growth subcommittee reviewed an enforcement decree revision to the Act on Reporting and Using Specified Financial Transaction Information on July 24 and recommended that the Financial Services Commission add an exception to fit-and-proper screening rules for major shareholders of virtual asset service providers. The recommendation could ease regulatory burdens raised during Naver\'s bid to acquire Dunamu. The revised law is set to take effect on Aug. 20.
Finance
Prosecutors expand probe into former Namyang Dairy chairman family over 3.7 billion won breach of trust
Prosecutors are widening their investigation into the family of former Namyang Dairy Products chairman Hong Won-sik over alleged private use of company funds, industry sources said on Monday. The Seoul Central District Prosecutors Office is looking into possible additional misuse beyond 3.7 billion won already charged, including by his wife, Lee Woon-kyung, and their two sons. A first-instance verdict is set for Jan. 29.
