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Two South Korean altcoin executives were freed on bail on February 7 pending a fraud trial. Prosecutors think the executives manipulated token prices to defraud investors.
Per Newsis, the Seoul Southern District Court released Pica Project/Pica Coin co-chairs Song (aged 24) and Seong (aged 45). The duo’s given names were withheld for legal reasons.
Altcoin Execs ‘Pose Flight Risk,’ Prosecutors Claim
Song and Seong were denied bail after their arrests on July 21, and have spent the past six months in pre-trial detention centers.
The prosecution told the court that the case was serious, “so there is a risk of flight.” They also told the court:
Source: https://cryptonews.com/news/south-korean-altcoin-execs-released-on-bail.htm