S Korean Prosecutors Search Golf Star Arrest Warrant

Supply: gesrey/Adobe

South Korean prosecutors have requested a court docket to arrest an ex-pro golfer and a high government at Bithumb, one of many nation’s main crypto exchanges.

YTN reported that the Seoul Southern District Prosecutors’ Workplace’s Monetary Investigation Division desires to strive golfer Ahn Seong-hyun and Lee Sang-jun (54), the CEO of Bithumb Holdings.

Prosecutors suspect that the duo could have listed tokens on the trade in trade for bribes.

Ahn, 42, turned professional in 2005 and went on to educate South Korea’s nationwide golf staff.

He additionally shot to movie star standing in 2017, when he married FinK.L’s Sung Yu-ri, a “first-generation” Okay-pop star-turned-A-listing actress.

The golfer Ahn Seong-hyun and the singer-actress Sung Yu-ri at their wedding ceremony in 2017.
Ahn and Sung at their wedding ceremony ceremony in 2017. (Supply: Slent)

However earlier this 12 months, prosecutors lodged an preliminary bid to arrest Ahn.

Ahn is regarded as a detailed good friend of the businessman Kang Jong-hyun, the alleged majority “proprietor” of Bithumb.

In April, Munhwa Ilbo reported, prosecutors claimed Ahn had abused his friendship with Kang to persuade the latter to record an unnamed home coin on the trade.

Investigators assume Ahn accepted a bribe from the coin’s issuer, after which persuaded Kang to push his Bithumb colleagues to record the token.

Kang can also be thought to have invested closely in a cosmetics model owned by Sung.

Lee, in the meantime, is accused of receiving a sequence of unlawful funds from Kang to assist facilitate the token’s itemizing.

Per Joongang Ilbo, Kang has instructed investigators he paid Lee a complete of $3.8 million between 2021 and 2022.

A graph showing trading volumes on the Bithumb crypto exchange over the past 12 months.
Buying and selling volumes on the Bithumb crypto trade over the previous 12 months. (Supply: CoinGecko)

Prosecutors have been attempting to safe an arrest warrant for Ahn since April, however have regularly been pissed off of their efforts.

Kang, in the meantime, is at the moment being prosecuted for allegedly manipulating inventory and cryptoasset costs.

He additionally faces expenses of embezzlement.

Ahn and Lee will now face a warrant overview listening to on the afternoon of September 1 at a department of the Seoul Southern District Courtroom.

Bithumb’s possession construction has turn out to be the topic of public scrutiny since an exposé about Kang was printed by the South Korean media outlet Dispatch final 12 months.

Prosecutors have additionally investigated bribes-for-coin itemizing allegations at Bithumb rivals, together with Coinone.

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