As per the reports, the vice president of Vident (an entity holding shares in Bithumb) Mr. Park was discovered dead amid his inquiry. The charges against him were related to the manipulation of stock prices and embezzlement. The reports point out that Mr. Park committed suicide while he was at home on the 30th of December 2022.
Bithumb Shareholder Firm Vident’s VP Discovered Dead amid Prosecutors’ Inquiry
Some other suspicions say that Park’s decision of suicide may have resulted from the fact that all the Kang siblings put the entire responsibility of charges put on him, as was discovered recently. According to the reports, the Kang siblings – the sister and brother of Mr. Kang (the person who claimed to be Bithumb’s chairman) – made illegal gains through stock price manipulation.
A Bithumb Affiliated Company’s Executive Faces Trial over Concealing and Destroying Evidence
They also reportedly carried out the issuance of convertible bonds along with making slush funds through money stolen from firms developed under borrowed titles. Keeping in view the respective suspicions, the prosecutors are investigating the matter. A complete investigation was launched by the Office Financial investigation Division of Seoul Southern District Prosecutor’s Office in which Bucket Studio, Inbiogen, and Vident were declared as Bithumb affiliates.
On November 16th, an executive belonging to an entity affiliated with Bithumb was passed on to a trial based on the charges related to eliminating the evidence as well as keeping it concealed. As per the allegations, the person potentially destroyed materials dealing with investment in advance of the inquiry and seizure. Vident is a company listed on KOSDAQ. It is known as the biggest shareholder of Bithumb. The respective entity holds an enormous stake of 34.22% in Bithumb Holdings.
