Ex-Chairman of Chorokbaem Group Suspected of Manipulating Share Prices of Bithumb Affiliates Released on Bail

The Seoul Southern District Court in South Korea granted bail to former Chorokbaem Group chairman Won Young-sik (62 years old). He was previously indicted for allegedly participating in stock price manipulation of Bithumb-affiliated companies. The court set bail conditions, including appearing in court at a time and place designated by the court, submitting a bond not to destroy evidence, and a bond of 300 million won. In addition, he was ordered to observe the court hearing and was prohibited from contacting witnesses or witnesses related to the case; he was also restricted in his place of residence, prohibited from leaving the country without permission, and was required to wear an electronic device to track his location in real time. (Yonhap News Agency)