Last Updated on January 27, 2023 by Bitfinsider
Prosecutors in South Korea are pursuing the arrest of Kang Jong-Hyun, the chairman and owner of bitcoin exchange Bithumb, according to a Korean news outlet on Wednesday.
According to local media, Kang and two other executives, including his younger sister, Kang Ji-Yeon, CEO of two publicly traded Bithumb affiliates, Inbiogen and Bucket Studio, were charged with embezzlement, breach of trust, and fraudulent illegal transactions by the Seoul Southern District Prosecutor’s Office.
It was reported earlier this month that South Korea’s National Tax Service had launched an inquiry into alleged tax evasion at Bithumb and its affiliates.
Separate from the tax evasion inquiry, the probe into Kang and the other executives’ actions revolves upon charges that Kang and the others stole corporate money and plotted to manipulate stock prices.
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