"Asking for Coin Listing" Professional Golfer Ahn Sung-hyun to be sentenced to prison in the first trial...a legal restraint

Professional golfer Ahn Sung-hyun, who was handed over to trial on charges of pocketing billions of won in back money under the pretext of listing coins, was sentenced to heavy punishment in the first trial and arrested in court.

The Seoul Southern District Court sentenced Ahn to four and a half years in prison today (26th) on charges of fraud and other charges under the Specific Economic Crimes Act and ordered him to confiscate two expensive watches he received during the solicitation process.

The court explained the reason for the sentencing, saying that solicitation at the virtual asset exchange is an act that harms the fairness of the capital market and that the crime is poor because it takes money without listing the actual coin.

Ahn was put on trial in September 2021 on charges of receiving 3 billion won in cash and 400 million won worth of luxury watches from businessman Kang Jong-hyun, asking him to list certain coins on the exchange Bithumb.The coin that Mr. Kang

requested to be listed has no related business and its substance is unclear.

Lee Sang-joon, former CEO of Bithumb Holdings, was sentenced to two years in prison and 50 million won in additional fines, while Kang, who asked for a listing, was sentenced to one and a half years in prison.