B&S Major Shareholder Sentenced to 10 Years for Haru and Delio's Fall
CryptoNewsTerminal Staff13 Aug, 2024
B&S Major Shareholder Sentenced to 10 Years for Haru and Delio's Fall
B&S Major Shareholder Sentenced to 10 Years in Prison Bang Mo, a major shareholder of B&S Holdings, has been sentenced to 10 years in prison for his role in the downfall of virtual asset operators Haru Invest and Delio. Bang was charged with fraud and accused of deceiving Haru Invest and Traum InfoTech out of approximately 60 billion won after the FTX bankruptcy incident in November 2022. The court found that Bang falsely notified the two companies that assets had been moved to another exchange, despite his assets being frozen on the exchange at the time of the FTX bankruptcy. This sentencing highlights the serious consequences for individuals who engage in fraudulent activities in the virtual asset industry and sends a strong message that such actions will not be tolerated.
