Seoul Southern District Court postponed the sentencing in the 250 billion won Delio crypto fraud case beyond July during a court session held on the 21st, with the next hearing scheduled for July 27 at 2 PM. The delay stems from the prosecution's indictment amendment adding backup charges and the defense's request for additional time to review documents, prompting the court to criticize the defense for appearing to "stall for time." The case involves Delio CEO Jung Sang-ho, who faces charges under the Act on the Aggravated Punishment of Specific Economic Crimes (fraud) and the Act on Reporting and Using Specified Financial Transaction Information for allegedly halting withdrawals in June 2023 and defrauding approximately 250 billion won from users.
Court Session on the 21st Addresses Indictment Amendment
The Seoul Southern District Court's 11th Criminal Division (Presiding Judge Jang Chan) held a hearing on the 21st to hear the defense's response to the prosecution's indictment amendment. The prosecution had originally requested sentencing on July 16 after demanding a 20-year prison term for Jung Sang-ho in April. The court rescheduled the sentencing to July 13 following the prosecution's request to add backup charges in case evidence collected during a search of IT company Gabia's servers—which managed Delio's systems—was ruled inadmissible due to alleged warrant violations.
The defense had previously argued that prosecutors collected information unrelated to the warrant's scope during the Gabia search. In response, the prosecution submitted Delio's creditor lists and Excel files as additional evidence and proposed backup charges with a reduced victim count—from 2,700-2,800 individuals to approximately 1,400—to maintain the case if the original evidence lost admissibility.
Defense Requests Document Review Time
During the session on the 21st, the prosecution submitted additional evidence to establish digital asset price valuations. The defense stated they had not received the amended indictment documents in advance and only reviewed them immediately before the hearing. Defense counsel told the court, "We did not receive [the documents] beforehand and received them just before the hearing date," adding that they had "not reviewed [the additional evidence] at all."
The court questioned the defense's need for extended review time, asking, "What is there to review? The backup charges merely narrowed approximately 2,700-2,800 victims to 1,400. Do you intend to examine daily price charts one by one?" The presiding judge added, "The defense seems strangely intent on stalling for time. What is the reason for this?" Defense counsel responded that they "truly did not receive [the indictment amendment documents] and communication [among counsel] was not smooth."
Court Schedules Next Session for July 27
The court scheduled the next hearing for July 27 at 2 PM. The court had intended to conclude the case before the summer recess period (July 27 to August 7), but the indictment amendments and document review requests will push the sentencing beyond July. Jung Sang-ho was indicted for allegedly halting withdrawals from Delio's virtual asset deposit service in June 2023, defrauding approximately 250 billion won, and fraudulently obtaining registration as a virtual asset service provider from financial authorities.
FAQ
Why was the Delio fraud case sentencing postponed beyond July?
The sentencing was postponed because the prosecution amended the indictment on July 13 to add backup charges and evidence, and the defense requested additional time during the court session on the 21st to review the amended documents and newly submitted evidence.
What charges does Delio CEO Jung Sang-ho face?
Jung Sang-ho faces charges under the Act on the Aggravated Punishment of Specific Economic Crimes (fraud) for allegedly defrauding approximately 250 billion won by halting Delio withdrawals in June 2023, and charges under the Act on Reporting and Using Specified Financial Transaction Information for fraudulently obtaining virtual asset service provider registration. The prosecution demanded a 20-year prison term in April.
When is the next court hearing scheduled for the Delio case?
The next court hearing is scheduled for July 27 at 2 PM at the Seoul Southern District Court.
