Key Summary
- South Korea’s Supreme Court rejected prosecutors’ appeal and upheld the appellate acquittal of professional golfer Ahn Sung-hyun.
- Ahn had been accused of taking money and luxury items in connection with efforts to list cryptocurrencies on the Bithumb exchange.
- The court also upheld the acquittal of former Bithumb Holdings CEO Lee Sang-joon in the same case.
- One high-end watch linked to the case was ordered confiscated from Ahn in relation to Lee’s conduct, according to the ruling.
- Ahn is married to singer-turned-actress Sung Yuri.
Main Story
South Korea’s Supreme Court has finalized the acquittal of professional golfer Ahn Sung-hyun in a cryptocurrency-related bribery and fraud case, leaving in place an earlier appellate ruling that overturned his first-instance conviction.
According to the decision announced on the 12th by the court’s third division, the justices dismissed the prosecution’s appeal in a case involving Ahn and three others charged under laws covering aggravated economic crimes and fraud. As a result, the appellate court’s judgment remained in effect.
Ahn and former Bithumb Holdings CEO Lee Sang-joon had been accused of receiving cash, luxury watches, and other expensive items from businessman Kang Jong-hyun in 2021 in connection with a request to list two so-called Kimchi coins on the Bithumb exchange. Prosecutors also said Ahn deceived Kang by claiming Lee wanted payment of 2 billion won in a hurry, then took that amount. Investigators said Ahn received luxury goods worth about 44 million won, including a 30 million won designer bag and expensive clothing.
The first trial court had convicted Ahn in December 2024 and sentenced him to four years and six months in prison, also ordering the confiscation of two luxury watches. He was taken into custody after that ruling, but later received bail from the appellate court in June 2024 and remained on trial without detention.
The appellate panel, however, found that Kang’s testimony was not reliable enough to prove that 5 billion won had been handed over to Ahn as a quid pro quo for the listing request, and it concluded that the related charge did not stand. The court said the money could instead have been related to cryptocurrency investment or another business matter, based on Ahn’s explanation.
The appellate judges also rejected the claim that Ahn should be held responsible for receiving the luxury watches. They said Kang had bought two expensive watches and given one to each of the two men, and described Ahn’s role as that of a giver rather than a receiver in that part of the arrangement. The court added that the watches were tied to a separate compensation structure and that Ahn bore no liability for receiving them.
On the allegation that Ahn had tricked Kang into handing over 2 billion won, the court said the record did not support the prosecutors’ theory that Ahn took the money as payment for the coin-listing request. It said his explanation that the funds were used for investment in Big Planet was more persuasive in the circumstances described in the case.
The same ruling ordered confiscation of only one luxury watch held in connection with Lee Sang-joon’s conduct. Kang Jong-hyun received a suspended prison sentence of one year with two years’ probation, with the court taking into account the reduced amount of benefits linked to the case after Ahn’s acquittal.
Ahn debuted as a professional golfer in 2005 and served as a reserve coach for South Korea’s national golf team from 2014 to 2018. He married former Fin.K.L member and actress Sung Yuri in 2017, and the couple has twin daughters.
Background
The supplied article states that Ahn’s case centered on alleged attempts to secure cryptocurrency listings on an exchange and that it involved both cash and luxury items. It also notes that the first trial had convicted him before the appellate court reversed that outcome. No additional background was provided beyond these case details and Ahn’s personal and career information.
Items Requiring Further Verification
- The article attributes the court’s reasoning to specific findings about witness credibility and the nature of the funds transferred, which are legal conclusions from the ruling rather than independently verified facts.
- The reported amounts, including the 5 billion won, 2 billion won, and 44 million won figures, come from the court case summary and should be confirmed against the official judgment if precise legal or financial reporting is required.
- The article refers to an item confiscated in connection with Lee Sang-joon’s conduct; the exact legal basis and ownership details should be checked in the court record.