Lawrence Damilola
The CEO of bankrupt South Korean yield platform Haru Invest was attacked with a knife in a courtroom on Wednesday during a fraud trial.
South Korean media reported—citing sources familiar with the matter—that the incident occurred at the Seoul Southern District Court, where the executive faced charges related to the alleged embezzlement of millions in cryptocurrency.
Hugo Hyungsoo Lee, the CEO of Haru Invest, was seated at the defendant’s bench when a victim of the company’s investment incident, identified as “Kang,” attacked him with a concealed 5 cm knife. According to reports, Kang, a man in his 40s, had been observing the trial and suddenly rushed at Lee, stabbing him multiple times in the neck. Court guards immediately intervened and subdued Kang.
An eyewitness account described the chaotic scene, noting that Lee collapsed on the courtroom floor with visible bloodstains. Emergency services arrived shortly after the attack, and Lee was taken to a nearby hospital for treatment. The Seoul Yangcheon Police Station confirmed that Kang was arrested at the scene and is currently under investigation.
The assault on Lee occurred amid ongoing legal proceedings against Haru Invest. South Korean prosecutors charged three company executives, including Lee, with embezzling approximately $826 million in cryptocurrency from around 16,000 users. “Prosecutors alleged that the executives had misled investors by making false claims about their investment strategies and using deceptive advertising for high-yield products,” a source familiar with the case stated.
Authorities revealed that the investigation into Haru Invest began after the company abruptly suspended deposits and withdrawals in June 2023. In February 2024, prosecutors charged the executives under South Korea’s Act on the Aggravated Punishment of Specific Economic Crimes. Lee had been released on bail in July.
The attack on Lee adds a new twist to the ongoing fraud trial, where the court is hearing evidence related to the alleged financial misconduct by the company’s top management. Authorities are also investigating the activities of Delio, another firm connected to Haru Invest, to determine the full scope of their financial operations.
Haru Invest had assured investors that it managed deposits using “risk-free techniques,” but findings revealed that a significant portion of the funds was invested through a single individual, contradicting their stated investment practices. As the court proceedings continue, law enforcement is working to gather further evidence and clarify the extent of the alleged embezzlement.
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Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
