Bithumb Major Shareholder Company Executive Commits Suicide Amid Prosecutor Investigation
A Bithumb Affiliate Commits Suicide by Jumping While Under Investigation for Embezzlement and Stock Price Manipulation Charges
[Asia Economy Reporters Tae-won Choi and Seo-yul Hwang] An executive of Bident, the largest shareholder of the virtual asset exchange Bithumb, took an extreme measure while under prosecution investigation.
According to Dongjak Police Station on the 30th, Bident Vice President Park was found dead after jumping from his apartment in Dongjak-gu, Seoul, around 4 a.m. that day.
Park was under prosecution investigation for embezzlement and stock price manipulation involving Bithumb affiliates. He was in charge of accounting under the siblings Jong-hyun Kang, who are known as the actual owners of Bident.
The Kang siblings are suspected of earning illicit profits through stock price manipulation and convertible bond issuance, and creating slush funds by diverting money to companies established under borrowed names.
The Financial Investigation Division 2 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Hee-man Chae) launched a full-scale investigation in October by conducting raids on Bident and its affiliates Inbiogen and Bucket Studio.
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On the 16th of last month, an executive A of a Bithumb affiliate was also prosecuted for evidence destruction and concealment. A is accused of hiding and destroying investment-related documents ahead of the raid.
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