In April, Shin was indicted by South Korean authorities for his involvement with a multibillion-dollar crypto enterprise. He was charged with violating capital-markets law. Shin's lawyer stated that he had left the company two years prior to its failure.
During the trial in South Korea, Shin's lawyers reiterated that he had 'parted ways' with co-founder Kwon in 2020.
Shin's indictment and charges highlight the legal consequences of violating capital-markets law in the crypto industry. This case serves as a reminder for individuals and companies to adhere to regulatory requirements and maintain transparency in their operations.
