Hancom Chairman Kim Sang-cheol Avoids Arrest over Virtual Currency Embezzlement Charges

IconCryptoNewsTerminal Staff18 Jul, 2024

cryptonews.jpg

Hancom Chairman Kim Sang-cheol Avoids Arrest over Virtual Currency Embezzlement Charges

Arrest Warrant Rejected The Seongnam branch of the Suwon District Court denied an arrest warrant for Hancom Chairman Kim Sang-cheol, who faces allegations of embezzling virtual currency. The court determined that Chairman Kim's right to defense must be protected and that evidence has been thoroughly investigated, eliminating concerns about evidence tampering. Alleged Embezzlement Chairman Kim is accused of orchestrating an embezzlement scheme involving Hancom With's inside director, Kim, who allegedly misused funds through 'Arowana Token.' Court's Decision The court's decision to reject the arrest warrant highlights the importance of ensuring due process and the preservation of evidence in criminal proceedings. Chairman Kim is scheduled to face trial for breach of trust under the Specific Economic Crimes Aggravated Punishment Law.

Related News