[Apha Biz=(Chicago) Reporter Paul Lee] The Financial Investigation Department 2 (Senior Prosecutor Chae Hee-man) at the Seoul Southern District Prosecutors' Office, which is investigating the alleged backdoor transaction of coin listing, requested an arrest warrant for Lee Sang-joon (54), CEO of Bithumb Holdings, and Ahn Sung-hyun (42), a former professional golfer.
According to the prosecution, CEO Lee is accused of receiving bribes from businessman Kang Jong-hyun (41, arrested and charged) along with a request to list Korean coins on Bithumb.
Prosecutors have secured Kang's statement to the effect that he delivered about 5 billion won to Lee from late 2021 to early last year.
Bithumb Holdings is the largest shareholder of Bithumb Korea, which operates the coin exchange Bithumb. As of the end of last year, Bithumb Korea holds a 73.56% stake.
Ahn is accused of taking money from a coin issuer (fraud and breach of trust under the Specific Economic Crime-weighted Punishment Act) to help him be listed.
Prosecutors also sought an arrest warrant for Ahn in April, but it was rejected by the court.
Ahn's questioning of the suspect before his arrest will be held at the Seoul Southern District Court at 2 p.m. on the 1st of next month at the hearing of Yoo Hwan-woo, a senior judge in charge of warrants.
Kang is on trial on charges of stock price manipulation, embezzlement and breach of trust at Bucket Studio with Vident, a Bithumb affiliate.
Kang is accused of making 35 billion won in unfair profits by distributing information on favorable factors and raising stock prices after issuing convertible bonds at Bucket Studio and Inbiogen in 2021, and causing 32 billion won in damage to the company by transferring a call option that allows him to buy CB back at a low price. There is also a charge of embezzling 62.8 billion won from Bithumb affiliates such as Vident.
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