Police summon Bithumb chairman for questioning over alleged fraud

The drama over alleged fraud involving Bithumb’s senior executives continues as the corporate’s chairman has reportedly been summoned for interrogation.

The Seoul Metropolitan Police Company is purportedly in quest of to query Lee Jung-hoon, chairman of board at Bithumb Korea and Bithumb Holdings, in line with a Sept. 18 record by means of South Korea’s state-run information company Yonhap.

As reported, Lee is allegedly accused of more than one fraud and embezzlement offenses in regards to the failed list of the BXA token. The purported fraud led to investor damages of as much as 30 billion received ($25 million), the record notes. The police also are reportedly having a look to query Lee over alleged embezzlement of traders’ price range in in another country assets purchases or offshore investments.

In step with Yonhap, Kim Byung-gun, every other chairman at Bithumb, is accused of being concerned within the BXA fraud along Lee. Alternatively, the police have now not but initiated an investigation towards Kim.

The most recent information comes in a while after Seoul police reportedly seized quite a few stocks in Bithumb Holdings belonging to Lee. The exec reportedly failed to obtain Bithumb, and has been sued within the procedure.

As reported by means of Cointelegraph, native police performed two raids on Bithumb’s places of work in connection to the alleged fraud in September.

Bithumb has now not replied to any of Cointelegraph’s requests for remark. 

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