[Breaking News] Coin Fraud Acquitted on Appeal… "Sung Yu-ri's Husband" Ahn Seong-hyun, Supreme Court Final Verdict Scheduled for November

*This content was translated by AI.View Original

The Supreme Court's final verdict in the case of professional golfer Ahn Seong-hyun, who was charged with embezzling several billion won under the pretext of listing cryptocurrencies on a virtual asset exchange, is scheduled for November.

The Third Division of the Supreme Court will hold the appeal hearing and deliver its judgment on November 12 in the case involving Ahn Seong-hyun and three others, who are charged with fraud and other offenses under the Act on Aggravated Punishment of Specific Economic Crimes.

Previously, the 13th Criminal Division of the Seoul High Court (Presiding Judge Baek Gang-jin) overturned the first-instance sentence of four years and six months in prison for Ahn Seong-hyun, acquitting him on appeal.

The 11th Criminal Division of the Seoul Southern District Court (Presiding Judge Jeong Do-seong), which handled the first instance, sentenced Ahn Seong-hyun to four years and six months in prison in December 2024 and ordered the confiscation of two luxury watches received during the solicitation process. Ahn Seong-hyun, who had been detained in court following the first-instance verdict, has been on trial without detention since his bail was granted by the second-instance court in June 2024. The first-instance court explained its sentencing rationale, stating, "Although transparent and sound virtual asset transactions should be conducted, solicitation activities undermine the fairness and transparency of the market," adding that they "seriously damage investor trust and can cause significant harm to legitimate investors."

Subsequently, the Prosecution Service filed an appeal against the second-instance verdict.

Ahn Seong-hyun and former Bithumb Holdings CEO Lee Sang-jun were charged with receiving 3 billion won in cash, two luxury watches, high-end restaurant membership cards, and other items after accepting a solicitation from businessman Kang Jong-hyun in 2021 to list two so-called "kimchi coins" on Bithumb.

Ahn Seong-hyun was also charged with defrauding Kang Jong-hyun of 2 billion won by falsely claiming that former CEO Lee Sang-jun demanded the solicitation fee of 2 billion won be paid quickly. Investigations revealed that Ahn Seong-hyun received approximately 44 million won worth of luxury goods from Kang Jong-hyun, including a 3 billion won luxury handbag and high-end clothing.

However, regarding whether the 5 billion won that Kang Jong-hyun allegedly transferred to Ahn Seong-hyun, of which 3 billion won was charged as having been passed to Lee Sang-jun, constituted payment for improper solicitation, the second-instance court stated, "We do not recognize the credibility of Kang Jong-hyun's testimony that he handed over money to Ahn Seong-hyun as payment for the coin listing solicitation," and ruled that this part of the indictment did not hold. The court further noted, "It appears likely that the money received by Ahn Seong-hyun was provided in relation to coin investments or other business ventures, as he claims."

Additionally, regarding the high-value watches given by Kang Jong-hyun to Lee Sang-jun and Ahn Seong-hyun, the court found that Ahn Seong-hyun's liability for receiving bribes was not established. The first instance had ruled guilty on charges of accepting luxury restaurant membership cards, watches, and bags under the pretext of coin listing solicitations.

The second-instance court stated, "Kang Jong-hyun purchased two high-value watches and gave one to each of the two individuals," adding, "We view Ahn Seong-hyun not as a bribe recipient but as a gift recipient. The watches were consideration for a conspiracy regarding gifting, and Ahn Seong-hyun bears no liability for receiving bribes in this regard."

The second-instance court added, "Ahn Seong-hyun appears to have handled investment negotiations on behalf of Kang Jong-hyun in many instances. In such circumstances, it is difficult to find a motive for him to risk the exposure of a lie to defraud 2 billion won," noting that "the situation makes Ahn Seong-hyun's defense—that he invested 2 billion won in Big Planet on behalf of Kang Jong-hyun—more persuasive."

The court acquitted Ahn Seong-hyun and ordered the confiscation only of one high-value watch related to Lee Sang-jun's criminal acts. It also sentenced Kang Jong-hyun to one year in prison with a two-year suspended sentence, considering factors such as the reduction in the amount of gifts given due to Ahn Seong-hyun's acquittal.

Ahn Seong-hyun debuted as a professional golfer in 2005 and served as a coach for the South Korea national golf team reserve squad from 2014 to 2018. He married Sung Yu-ri, a former member of Pinkl and an actress, in 2017, and they have twin daughters. Previously, Sung Yu-ri had appealed for her grievance, stating, "I pray that the truth about the unfair and difficult matters will be revealed."

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*This content was translated by AI.View Original