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V Global Crypto Exchange Executives Avoid Jail Time in $1.4B Fraud Case
V Global Crypto Exchange Executives Avoid Jail Time in $1.4B Fraud Case
22
2
BTCCSquare news:
Three executives linked to the fraudulent crypto exchange V Global have received suspended sentences despite their involvement in a $1.4 billion scheme that duped 50,000 investors. The Daejeon District Court's Cheonan Branch handed down three-year suspended jail terms and five years of probation, alongside fines totaling over $966,000.
The defendants, identified only as A, B, and C, held senior positions in organizations that employed multi-level marketing tactics to lure victims to the platform. While the court acknowledged the "astronomical damages" caused, it opted against imprisonment. The ruling underscores the ongoing challenges regulators face in holding bad actors accountable in the crypto space.
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