South Korean Prosecutors Seek 20-Year Sentence for Delio CEO Over Withdrawal Halt

South Korean prosecutors have called for a 20-year prison sentence for the CEO of Delio, in connection with a case involving a 250 billion won ($181.5 million) withdrawal halt. According to NS3.AI, the prosecutors allege that the CEO embezzled customer assets and engaged in deceptive practices and false advertising, leading to significant losses for numerous victims. Additionally, the prosecutors noted that the CEO has been uncooperative throughout the investigation.