PANews April 30 news, according to Yonhap News Agency, the South Korean prosecution has proposed a 20-year prison sentence for Delio CEO Chung Sang-ho, accusing him of stealing approximately 250 billion won (about 190 million USD) in virtual assets from around 2,800 victims. Delio unexpectedly suspended withdrawals on June 14, 2023, after the company lured investors to deposit cryptocurrency with high interest rates. The prosecution pointed out that the defendant's active fraudulent behavior and false advertising led to a large number of victims suffering huge losses, and the defendant has consistently evaded responsibility and adopted an uncooperative attitude. Chung Sang-ho and his defense attorney expressed a deep sense of responsibility, stating that if found not guilty, they would do their best to compensate the victims. The first-instance verdict will be announced on July 16.

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