Hugo Hyungsoo Lee, the CEO of South Korean crypto yield platform Haru Invest, was brutally attacked in a courtroom on August 28, 2024.
Immediate Response
The Court security quickly intervened to subdue the attacker, Mr. Kang. Lee was transported by ambulance to the hospital immediately by emergency services. His clothing was stained with blood by the time he was taken from the courtroom. Mr. Kang was detained by officers from the Seoul Yangcheon Police Station and is currently under investigation for the violent attack.
Background of the Case
Haru Invest, once touted for offering double-digit yields on crypto deposits, has been facing severe scrutiny since it paused withdrawals and deposits in June 2023. The company cited issues with service partners and subsequently fired around 100 employees. Reports suggest that Haru Invest might have been involved in a 'rug pull' scam, where founders disappear with investors' funds. The company’s problems were compounded by allegations of misappropriation of customer funds. Prosecutors claim that Haru Invest executives advertised their investment techniques as 'risk-free' while misusing customer deposits. Last February, South Korean authorities arrested three executives including Lee from the company on allegations of stealing 1.1 trillion won (approximately $828 million) from around 16,000 customers.
Hugo Lee’s Troubles
Hugo Lee's legal troubles have been significant. He was detained in February 2024 and charged under the Aggravated Punishment Act for Certain Crimes. Though he was granted bail in July, he remains under legal scrutiny. The ongoing fraud case continues to unfold, with Haru Invest and related companies like Delio under investigation for their financial practices.
The incident highlights the growing issues at Haru Invest and the challenges Hugo Lee faces as the fraud case progresses.
Comments