Fintech founder Joe Cho charged with fraud in South Korea
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Singapore
JOE CHO SEUNGHYUN, the founder of Marvelstone Group - a fintech firm once based in Singapore - has been charged with fraud in his home country of South Korea and is set to appear in court in Seoul at his first hearing this Friday, a court document seen by The Business Times showed.
He continues to be investigated by the police over the same allegations of fraud brought on by a separate set of over 70 investors who have claimed that more than 10 billion Korean won (S$11.5 million) of investments are due to them, said their lawyer Noh Joohee. The first hearing on Friday pertains to investigations based on reports from a separate "dozen" of investors, Ms Noh told BT.
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