Summary:
In a shocking development, Hugo Hyungsoo Lee, the CEO of South Korean crypto yield platform Haru Invest, was violently attacked with a knife during his ongoing fraud trial on August 28, 2024. The assault took place at the Seoul Southern District Court, where Lee was seated at the defendant’s bench. Following the attack, Lee was seen bleeding on the courtroom floor, which was marked with bloodstains. Emergency services quickly arrived and transported him to a nearby hospital. His current condition is still unknown.
The assailant, identified as Kang, was immediately apprehended at the scene and is now under police investigation. This violent incident adds another layer of complexity to an already high-profile case.
The trial itself centers around serious allegations against Haru Invest. In February 2024, South Korean prosecutors arrested three executives from the company, including Lee, on charges of embezzling approximately $826 million from around 16,000 users. The accusations include misrepresenting investment practices and deploying misleading advertising to promote high-yield products.
The scrutiny on Haru Invest extends beyond this trial. Both Haru and another company, Delio, are under investigation by local authorities after abruptly halting withdrawals in June 2023. Haru had claimed to manage deposits using risk-free techniques, but it was later discovered that most client deposits were funneled through a single individual.
This attack underscores the intense pressure and scrutiny surrounding the crypto industry in South Korea as it grapples with issues of fraud, mismanagement, and regulatory oversight.
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