Prosecutors in South Korea are seeking an arrest warrant for a former professional golfer and a high-ranking official at Bithumb, a premier cryptocurrency exchange in the nation.
YTN has revealed that the Financial Investigation Department at the Seoul Southern District Prosecutors’ Office is keen to prosecute golfer Ahn Seong-hyun and Bithumb Holdings’ CEO, Lee Sang-jun (54).
The allegations are that the two might have accepted bribes to list certain tokens on the platform.
Ahn, aged 42, began his professional golfing career in 2005 and later became the coach for the South Korean national golf team. His rise to fame intensified in 2017 upon marrying Sung Yu-ri from FinK.L, a pioneer in the K-pop world who transitioned into a top-tier actress.
Earlier in the year, authorities made their first attempt to detain Ahn.
It’s believed that Ahn shares a close relationship with businessman Kang Jong-hyun, who is rumored to be the main stakeholder of Bithumb.
According to a report by Munhwa Ilbo in April, allegations arose that Ahn leveraged his bond with Kang to advocate for the listing of a particular local cryptocurrency on the exchange.
The investigative team suspects Ahn received a kickback from the cryptocurrency’s creator, and subsequently influenced Kang to persuade other Bithumb executives to add the token to their platform.
Additionally, it’s speculated that Kang made significant investments in a beauty brand owned by Sung.
On the other hand, Lee is alleged to have accepted multiple unlawful payments from Kang in exchange for assistance with the token’s introduction on the exchange.
As reported by Joongang Ilbo, Kang confessed to authorities that he transferred a sum of $3.8 million to Lee over the course of 2021 to 2022.
Since April, prosecutors have sought an arrest warrant for Ahn, but their attempts have consistently met with obstacles.
Kang is also in legal hot water, facing charges for purportedly manipulating stock and cryptocurrency values.
Additionally, Kang is being charged with embezzlement.
Both Ahn and Lee are scheduled for a warrant assessment hearing on September 1, to be held at a division of the Seoul Southern District Court.
Since Dispatch, a South Korean media organization, unveiled an exposé on Kang last year, Bithumb’s ownership dynamics have been under the public microscope.
Furthermore, prosecutors have delved into allegations of bribery-for-listing at other competing exchanges, Coinone being among them.
