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.
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