{"id":55161,"date":"2023-08-31T03:02:00","date_gmt":"2023-08-31T07:02:00","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/s-korean-prosecutors-seek-golf-star-arrest-warrant\/"},"modified":"2023-08-31T03:02:02","modified_gmt":"2023-08-31T07:02:02","slug":"s-korean-prosecutors-seek-golf-star-arrest-warrant","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55161","title":{"rendered":"S Korean Prosecutors Seek Golf Star Arrest Warrant"},"content":{"rendered":"
\n

South Korean prosecutors have asked a court to arrest an ex-pro golfer and a top executive at Bithumb, one of the country\u2019s leading crypto exchanges.<\/p>\n

YTN reported that the Seoul Southern District Prosecutors\u2019 Office\u2019s Financial Investigation Department wants to try golfer Ahn Seong-hyun and Lee Sang-jun (54), the CEO of Bithumb Holdings.<\/p>\n

Prosecutors suspect that the duo may have listed tokens on the exchange in exchange for bribes.<\/p>\n

Ahn, 42, turned pro in 2005 and went on to coach South Korea\u2019s national golf team.<\/p>\n

He also shot to celebrity status in 2017, when he married FinK.L\u2019s Sung Yu-ri, a \u201cfirst-generation\u201d K-pop star-turned-A-listing actress.<\/p>\n

But earlier this year, prosecutors lodged an initial bid to arrest Ahn.<\/p>\n

Ahn is thought to be a close friend of the businessman Kang Jong-hyun, the alleged majority \u201cowner\u201d of Bithumb.<\/p>\n

In April, Munhwa Ilbo reported, prosecutors claimed Ahn had abused his friendship with Kang to convince the latter to list an unnamed domestic coin on the exchange.<\/p>\n

Investigators think Ahn accepted a bribe from the coin\u2019s issuer, and then persuaded Kang to push his Bithumb colleagues to list the token.<\/p>\n

Kang is also thought to have invested heavily in a cosmetics brand owned by Sung.<\/p>\n

Lee, meanwhile, is accused of receiving a series of illegal payments from Kang to help facilitate the token\u2019s listing.<\/p>\n

Per Joongang Ilbo, Kang has told investigators he paid Lee a total of $3.8 million between 2021 and 2022.<\/p>\n

Prosecutors have been trying to secure an arrest warrant for Ahn since April, but have frequently been frustrated in their efforts.<\/p>\n

Kang, meanwhile, is currently being prosecuted for allegedly manipulating stock and cryptoasset prices.<\/p>\n

He also faces charges of embezzlement.<\/p>\n

Ahn and Lee will now face a warrant review hearing on the afternoon of September 1 at a branch of the Seoul Southern District Court.<\/p>\n

Bithumb\u2019s ownership structure has become the subject of public scrutiny since an expos\u00e9 about Kang was published by the South Korean media outlet Dispatch last year.<\/p>\n

Prosecutors have also investigated bribes-for-coin listing allegations at Bithumb rivals, including Coinone.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

South Korean prosecutors have asked a court to arrest an ex-pro golfer and a top executive at Bithumb, one of the country\u2019s leading crypto exchanges. YTN reported that the Seoul Southern District Prosecutors\u2019 Office\u2019s Financial Investigation Department wants to try golfer Ahn Seong-hyun and Lee Sang-jun (54), the CEO of Bithumb Holdings. Prosecutors suspect that […]<\/p>\n","protected":false},"author":1,"featured_media":55162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-55161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nS Korean Prosecutors Seek Golf Star Arrest Warrant | iFintechWorld<\/title>\n<meta name=\"description\" content=\"South Korean prosecutors have asked a court to arrest an ex-pro golfer and a top executive at Bithumb, one of the country\u2019s leading crypto exchanges.YTN\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=55161\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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