South Korean prosecutors are seeking a 20-year prison sentence for the former CEO of Delio.

South Korean prosecutors have formally requested a 20-year prison sentence for former Delio CEO Jung Sang-ho, charging him with large-scale economic fraud. In its closing statement at the Seoul Southern District Court, prosecutors cited local laws on aggravated economic crimes, alleging that the suspect deliberately deceived and misled investors over a long period, causing approximately 2,800 investors to lose their funds and be unable to recover them. Prosecutors stated that the defendant's intent to defraud was clear, the losses were substantial, and his subsequent refusal to cooperate with the investigation and deliberate attempts to evade responsibility further exacerbated the losses and plight of the victims; therefore, they are seeking a severe sentence according to the law. (Cointelegraph)