Bithumb Largest Shareholders Company Vice President Jumps Towards Suicide

Key Points:

• A suspect was found dead while being investigated by the prosecution on charges of embezzlement and stock price manipulation of the cryptocurrency exchange ‘Bithumb affiliates’.
• On December 30, Park Mo, vice president of Vident, a shareholder company of Bithumb, committed suicide by jumping from his home early this morning.
• It is said that while serving as vice president of Vident, Park was in charge of accounting under the brother and sister of Mr. Kang, who claimed to be the chairman of Bithumb.

According to Money Today, Park Mo, the vice president of Vidente, the largest shareholder of South Korean encryption exchange Bithumb, committed suicide by jumping off a building while being investigated by South Korean prosecutors.

Park was discovered dead in front of his home in Dongjak-gu, Seoul. It occurred on the morning of the 30th, about four in the morning, according to Seoul Dongjak Police Station. Police believe Park made a radical decision, nevertheless.

He was being investigated by the prosecution for allegedly embezzling money and manipulating stock prices. The largest stakeholder in Bithumb Holdings is Vident, a KOSDAQ-listed company that holds a 34.22% stake in the company.

It is reported that Park is under investigation by the prosecution for allegedly embezzling Bithumb-related companies and manipulating stock prices. Park is the key suspect in this case. He was in charge of accounting work under Bithumb’s behind-the-scenes chairman Kang Jong-hyun and his younger sister Kang Ji-yeon.

According to reports, some people suspect that Park’s choice of suicide may be because the Kang brothers and sisters who surfaced recently put all the responsibility for embezzling public funds and manipulating stock prices on him. The Kangs allegedly sought improper benefits by manipulating stock prices and issuing convertible bonds and by stealing money from borrowed companies to build slush funds.

Seoul Southern District Prosecutor’s Office Financial Investigation Division 2 (Chief Prosecutor Chae Hee-man) launched a full-fledged investigation last October by confiscating Vident, Inbiogen, and Bucket Studio, which are affiliated with Bithumb.

On the 16th of last month, an executive of a Bithumb affiliate was handed over to trial on charges of destroying evidence and concealing it. He is accused of hiding and destroying investment-related materials ahead of the search and seizure.

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