The Supreme Court is set to deliver its final verdict on November 12 regarding the high-profile criminal case of professional golfer Ahn Seong-hyun, husband of actress Sung Yu-ri. The case, which has drawn significant public attention, centers on allegations of illegal solicitation and fraud involving the listing of cryptocurrencies on the Bithumb exchange.
Ahn Seong-hyun and three co-defendants were previously charged with violating the Act on Aggravated Punishment of Specific Economic Crimes. The allegations stem from a 2021 incident in which Ahn and former Bithumb Holdings CEO Lee Sang-jun were accused of accepting 3 billion won in cash, alongside luxury goods such as high-end watches and restaurant membership cards, from businessman Kang Jong-hyun to secure the listing of two specific cryptocurrencies, often referred to as “kimchi coins.”
Furthermore, Ahn faced charges of defrauding Kang of an additional 2 billion won by allegedly misrepresenting that the funds were required as an urgent solicitation fee for the former CEO.
The legal journey of the case has seen a significant reversal in lower courts. In December 2024, the Seoul Southern District Court sentenced Ahn to four years and six months in prison, concluding that his actions undermined market fairness and investor trust. At that time, Ahn was taken into custody; however, he was later granted bail in June 2024 and has since been standing trial without detention.
The landscape of the case shifted dramatically during the appellate process. The Seoul High Court overturned the initial conviction, effectively acquitting Ahn of the core charges. The appellate court found the testimony of the key accuser, Kang Jong-hyun, to be lacking in credibility. Regarding the transfer of funds, the judges noted that the transactions were more consistent with private business ventures and coin investments than with bribery.
The court further ruled that the receipt of luxury items, such as high-end watches, did not constitute bribery. The judges characterized the gifts as private exchanges, stating, “We view Ahn Seong-hyun not as a bribe recipient but as a gift recipient,” and concluded that he held no criminal liability in that regard. Consequently, the court only ordered the confiscation of items directly linked to Lee Sang-jun’s offenses.
The prosecution subsequently challenged the acquittal, leading to the upcoming final hearing at the Supreme Court. The outcome will conclude a lengthy legal battle that has heavily impacted the family, with actress Sung Yu-ri previously expressing her personal distress and hope for the truth to be revealed. With the November 12 deadline approaching, the judiciary will now provide the final word on the legality of these financial dealings.
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