Attack on Haru Invest CEO in South Korean Court

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by Giorgi Kostiuk

2 years ago

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  1. Immediate Response
  2. Background of the Case
  3. Hugo Lee’s Troubles


    4. Hugo Hyungsoo Lee, the CEO of South Korean crypto platform Haru Invest, was brutally attacked in a courtroom on August 28, 2024. The assault took place in Courtroom No. 306 at approximately 2:20 PM local time.

    Immediate Response

    Court security quickly intervened to subdue the attacker, Mr. Kang, a man in his 40s, who had smuggled a 5 cm knife into the courtroom. Mr. Lee was immediately transported to the hospital by emergency services. His clothing was stained with blood, and a significant amount of blood was left on the courtroom floor. 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. In February 2024, South Korean authorities arrested three executives, including Lee, 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 underscores the severity of the situation surrounding the crypto platform Haru Invest and amplifies public attention on the ongoing investigation.

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