:::::::::: 글로벌번역통역센터 ::::::::::
 
 



 
 
> 고객지원센터 > News & Notice
ADMIN 2021. 09. 28.  
LIST  MODIFY  DELETE  WRITE  REPLY 
   제목: Bithumb's top execs face lawsuit in Hong Kong for fraud

Bithumb's top execs face lawsuit in Hong Kong for fraud


July 6 ,2021

By Park Jae-hyuk


Bithumb's Hong Kong subsidiaries are facing a civil suit for breach of contract, while their top executives are facing criminal charges of fraud.

The accusations were made by the cryptocurrency exchange operator's previous partner in Thailand, which took separate legal action in Korea last September against executives and major shareholders here, after the company unilaterally halted its business in Thailand.

A representative of the former partner in Thailand told The Korea Times that lawyer Kevin Lee from the Hong Kong firm, Prince's Chambers, has been hired for his company's legal battle in Hong Kong. The lawsuits will be filed this month.

The former Thai partner decided to sue Bithumb's Hong Kong subsidiaries ― Bithumb Global Holdings (BGH) and GBEX ― and their top executives, after it discovered they were involved in the plan to open a Bithumb exchange in Thailand. Some of the executives of these subsidiaries also hold high-level positions in Bithumb Korea, according to the plaintiff.

Excerpts articles from The Korea Times

In 2017, Bithumb announced that it would recruit overseas partners to establish cryptocurrency exchanges in their countries by forming joint ventures. Its plan was reported by several news outlets at the time. Although Bithumb founded entities in Thailand and Japan in 2018, efforts to open exchanges in these countries were in vain.

The former Thai partner is claiming that Bithumb's sincerity is in question as the operator seems to have had no true intention to establish an exchange in Thailand. It alleges the company made empty promises from the start, simply to sell BXA coins by exaggerating the firms overseas presence.

The BXA coin was a virtual asset issued by BK Group Chairman Kim Byung-gun, who once attempted to take over Bithumb. After Kim gave up that plan due to financial concerns, and BXA failed to be listed on Bithumb, those who bought the coins on expectations over the acquisition sued him and Bithumb board Chairman Lee Jung-hoon, who is regarded as the de facto owner of the company.

"After Bithumb stopped its BXA coin business, its Thai operation became unnecessary, so the company ended its business in Thailand unilaterally, causing serious damage to us," the former Thai partner said. "BGH and GBEX collectively own a 49-percent stake in the joint venture in Thailand, and are wholly-owned subsidiaries of Bithumb Korea, so we sued Bithumb Korea's executives last year and decided recently to file lawsuits in Hong Kong against the Hong Kong subsidiaries and their executives, who are related to this issue more directly."

The fact that the criminal suit in Korea has been pending at Suseo Police Station in Seoul over the past nine months was another reason for its decision to take legal action in Hong Kong.

"We have yet to receive any response from the police," Kwon O-hoon of law firm Cha & Kwon, who represents the plaintiff, said. He added that the case has not been brought to court yet.

A separate lawsuit could be filed, "in the near future," by the cryptocurrency exchange operator's former partner in Japan, according to the Thailand partner.

When contacted for comment concerning the company's legal battle over the foundered joint venture in Thailand, Bithumb Korea's spokesperson had not responded as of July 6.


Excerpts articles from The Korea Times
LIST  MODIFY  DELETE  WRITE  REPLY 





전체글 목록 2021. 09. 28.  전체글: 922  방문수: 2891778
 공지  정규직,계약직,프리랜서직 모집 
922   Celltrion and Humasis win big U.S. DOD Covid test kit contract
921   Korea's universities urged to set up battery-tech program
920   Samsung, Apple rivalry continues over newest smartphones
919   Embattled Apple unveils new iPhone
918   Google fined ₩200 billion for restricting competition
917   Kakao founder Kim under FTC investigation
916   Lotte to acquire Hanssem with IMM PE
915   From 4% to 45%: Energy Department Lays Out Ambitious Blueprint for Solar Power
914   From 4% to 45%: Energy Department Lays Out Ambitious Blueprint for Solar Power
913   Hyundai to apply hydrogen system to all commercial models by 2028
912   Banks come under fire for 'greedy' loan rate hike
911   Hedge Fund’s Insiders Agree to Pay as Much as $7 Billion to I.R.S.
910   Japan Needs a Lot More Tech Workers. Can It Find a Place for Women?
909   POSCO hosts 2021 forum to map out new direction
908   The World Is Still Short of Everything. Get Used to It.
907   CJ ENM seeing progress to acquire SM Entertainment
906   Buy or Wait? Here's a Guide to Phone Upgrades
905   Apple and Google's Fight in Seoul Tests Biden in Washington
904   SK's in-house forum discusses 'deep change' in businesses
903   Competition heating up among local EV battery makers
902   Gov't, Samsung in talks with Moderna for faster vaccine supply
901   U.S. Will Investigate Tesla뭩 Autopilot System Over Crashes With Emergency Vehicles
900   Samsung heir Lee set free on parole after 7 months in prison
899   Electric Cars for Everyone? Not Unless They Get Cheaper.
898   Apple seeing developments in 'iCar' talks with Korean partners
897   'EV transition to bring along major disruptions for carmakers'
896   Amazon Faces Wider Fight Over Labor Practices
895   What if Highways Were Electric? Germany Is Testing the Idea.
894   KT&G to expand business in Eastern Europe and Central Asia
893   This Could Have Been a Zoom Meeting: Companies Rethink Travel
RELOAD VIEW DEL WRITE
1 [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] [19] [20] 31