Court Finds Deligo Executives Not Guilty of Fraud
CryptoNewsTerminal Staff02 Sep, 2024
Court Finds Deligo Executives Not Guilty of Fraud
In a recent development in the Deligo fraud case, the 11th Criminal Division of the Seoul Southern District Court has ruled that the executives of the company are not guilty of fraud. This came as a surprise to many, as the prosecution had alleged that the executives had engaged in a scheme to deceive investors and inflate the company's stock price. The court's decision was based on a number of factors, including the lack of evidence to support the prosecution's claims. The court also found that the executives had acted in good faith and had not intended to deceive investors. The executives had been accused of creating a false prospectus that misled investors about the company's financial health. They were also accused of inflating the company's stock price through illegal trading practices. The prosecution had sought prison sentences for the executives, but the court ruled that there was not enough evidence to support the charges. The court also found that the executives had not intended to deceive investors and had acted in good faith.
