According to South Korean media reports, former professional golfer Ahn Seong hyun was sentenced to 4 years and 6 months in prison and detained in court for allegedly collecting huge amounts of funds under the guise of helping cryptocurrency go public. The Seoul Southern District Court ruled that Ahn Seong hyun illegally obtained 5 billion Korean won in cash from businessman Jang Jong hyun, including 2 billion Korean won fraudulently obtained, but failed to prove that he transferred 3 billion Korean won to Lee Sang joon, the former representative of Bithumb Holdings. Therefore, it was determined that he illegally possessed all the cash. The court also announced that Li Shangjun, who was prosecuted together with An Chengxian, was sentenced to 2 years in prison and had 52 million Korean won confiscated; Jiang Zhongxian was sentenced to 1 year and 6 months for providing bribes such as luxury goods to Li Shangjun. The relevant personnel of the cryptocurrency issuing company involved in the case, Song, were found not guilty. During the trial, An Chengxian stated that he never collected funds under the condition of cryptocurrency listing and claimed to have suffered huge economic losses, denying any fraudulent behavior.
