20-Year Prison Sentence Demanded for Delio CEO: FTT Connection
South Korean prosecutors have demanded a 20-year prison sentence for Delio‘s CEO Jeong Sang-ho, the crypto asset investment platform. Delio created shockwaves in the industry when it suddenly halted customer withdrawals in June 2023. In the closing arguments at the Seoul Southern District Court, prosecutors claimed that Jeong violated the Act on the Aggravated Punishment of Specific Economic Crimes. This demand elevates the victims’ long-awaited quest for justice to its peak. Yonhap news agency reported that the incident is linked to irregularities during Delios operations. Delio Scandal Timeline and FTX Impact The chain of events extends to Jeong being indicted in April 2025; this occurred about a year after authorities sought an arrest warrant for the withdrawal halt scandal involving actors like Haru Invest and B if broken, bearish pressure increases toward S1. Short positions for FTT futures are risky. Number of Victims and Economic Damage Details 2,800 victims, 250 billion won damage. Haru Invest‘s 350 billion won loss from FTX deepened Delio’s liquidity crisis. This could harden South Koreas crypto regulations. Transparency in the Crypto Sector and Expectation of Precedent-Setting Decision This case is testing transparency and accountability standards in the crypto sector. The prosecutors‘ tough stance signals stricter oversight in platform managers’ handling of