Haru Invest Executives Charged with Massive Fraud Released on Bail

IconCryptoNewsTerminal Staff29 Jul, 2024

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Haru Invest Executives Charged with Massive Fraud Released on Bail

Seoul Southern District Court Grants Bail to Haru Invest Executives The Seoul Southern District Court's Criminal Division 15 has granted bail to Park, Song, and Lee, co-CEOs and business representatives of Haru Invest. They were charged with fraud and violations of the Act on the Aggravated Punishment of Specific Economic Crimes. The executives are accused of deceiving investors into depositing cryptocurrency with Haru Invest from March 2020 to June 2022. They allegedly promised risk-free investment, principal guarantee, and high returns. The executives are alleged to have misappropriated approximately 1.4 trillion won worth of cryptocurrency. The bail requests were filed on December 12th, and approved two weeks later. The court's decision was made after considering the evidence presented by prosecutors and defense attorneys. The executives are still facing charges, and the trial is expected to continue. They have denied the allegations and have vowed to prove their innocence.

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