According to a report from CoinDesk Korea on Friday, the Prosecutors’ Office of the southern district of Seoul has indicted three senior staff members, including founder Song Chi-Hyung, on charges of fraud.
The executives are alleged to have made fraudulent transactions between September to December of last year, using a fake corporate account to make bogus orders worth 254 trillion won (or $226.2 billion) to inflate trading volume figures and attract more customers to the exchange.
https://www.coindesk.com/executives-at-korean-crypto-exchange-upbit-indicted-for-fraud