Korea issues arrest warrant for Delioharu Investment case

The prosecution issued an arrest warrant for Mr. Bang, a key figure in the investigation. Withdrawal suspension Korean media outlet of Delio, a domestic cryptocurrency lending company, and Haru Invest, an investment company. Reported Digital Assets wednesday.

It is known that Mr. Bang holds a majority of the shares of B&S Holdings, which Haru Invest identified as the root cause of serial service interruptions. The room’s full name is withheld due to local media privacy regulations.

On June 14, 2023, Delio claim to have The lending and lending service processed $1 billion worth of cryptocurrency and halted user withdrawals. Delio revealed that the reason for this suspension was the sudden suspension of deposits and withdrawals by Haru Invest, a cryptocurrency investment management company with which it traded.

One day, a criminal complaint was filed against B&S Holdings, a consignment operation company. Claimed to have deceived the company By filing a false management report, B&S claimed that one day B&S lost 350 billion won worth of funds due to the collapse of the FTX exchange. previous report In digital assets.

According to Digital Asset, the police applied for an arrest warrant for Mr. Bang last week on charges of fraud and breach of trust. Afterwards, Seoul prosecutors reportedly requested a reexamination of the warrant from the local court.

Meanwhile, when Delio and Haru’s customers sued the executives, the prosecution banned Delio, Haru, and key B&S members from leaving the country.

The Seoul Southern District Prosecutors’ Office did not immediately respond to The Block’s request to confirm the report and provide additional opinions.

Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.