South Korean crypto lending company Delio CEO denies promise of principal protection during trial

James Jung, CEO of Korean crypto lending company Delio, declared in a criminal trial that his company never promised principal protection for deposit products. Delio is accused of embezzling virtual assets worth 250 billion Korean won (approximately 181 million US dollars) and suspending deposit and withdrawal services without prior notice. Jung denied all charges brought by the prosecution and argued that their search was illegal. After the trial, Jung had a dispute with the company's creditors that lasted for over 20 minutes. His next trial is scheduled for July 23rd.