Prosecutors Conduct Search and Seizure at Bident Related to Bithumb Affiliate Embezzlement by Kang Jong-hyun
[Asia Economy Reporters Tae-won Choi and Byung-sun Gong] The prosecution has launched a search and seizure operation at Vidente, the largest shareholder of the cryptocurrency exchange Bithumb, to further investigate allegations of embezzlement involving Bithumb affiliates.
On the 22nd, the Financial Investigation Division 2 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Chae Hee-man) announced that investigators were dispatched to Vidente to execute a search warrant.
The prosecution is reportedly conducting additional investigations related to Kang Jong-hyun, who was indicted and detained on the 20th on charges of breach of trust and embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes, as well as fraudulent trading under the Capital Markets Act. Kang is accused of effectively owning affiliates through his younger sister Kang Ji-yeon, who is the CEO of Inbiogen and Bucket Studio, both Bithumb affiliates, and engaging in stock price manipulation.
Hot Picks Today
At President Lee's Call to "Give Enough to Shock," Whistleblower Rewards Become a Real Lottery
- If a Samsung Electronics Employee with a 100 Million Won Salary Receives a 600 Million Won Performance Bonus, Taxes Total 247.19 Million Won
- Lived as Family for Over 30 Years... Daughter-in-Law Cast Aside After Husband's Death
- "White House Blocks Repatriation of 'Ebola-Infected' Doctor... Ultimately Transferred to Germany"
- "4.15 Million Won Prada Jacket Shows White Spots After One Wear"...Korea Consumer Agency Orders Full Refund
Vidente holds a 34.22% stake in Bithumb Holdings, making it the largest shareholder. The ownership structure is connected, with Vidente's largest shareholder being Inbiogen, and Inbiogen's largest shareholder being Bucket Studio.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
