Haru Invest’s CEO Stabbed in Court During $826M Fraud Trial

Hugo Hyungsoo Lee, the CEO of Haru Invest, a South Korean interest-bearing crypto platform, was attacked with a knife in the courtroom during a fraud trial, according to a report by a local media outlet. 

Mr Lee has been under scrutiny since Haru Invest suspended deposits and withdrawals in June 2023. In February, he was indicted on fraud charges under South Korea’s Act on the Aggravated Punishment of Specific Economic Crimes but was granted bail in July.

Haru Invest Victim Attacked CEO Lee

The assault took place in the Seoul Southern District Court on August 28 at around 2:20 p.m. Lee was seated at the defendant’s bench when a victim of the Haru incident, a 51-year-old man identified as “Mr Kang,” attacked him with a concealed 20 cm knife. 

The assailant, who had been watching the trial, charged at Lee, stabbing him several times in the neck. Following the attack, Lee collapsed in the courtroom, bleeding. The guards quickly intervened to subdue Kang.

Shortly after, emergency services arrived and Lee was transported to a nearby hospital. His current condition is not known. Meanwhile, Kang, who was arrested at the scene, is currently being investigated by police, according to the report.

Haru Invest Executives Arrested for Alleged Embezzlement 

The latest incident follows the arrest of three Haru executives in February. According to South Korean prosecutors, these executives embezzled $826 million from around 16,000 customers between March 2020 and June 2023. 

The firm allegedly misrepresented its investment practices and used misleading advertising for its high-yield products.

According to authorities, Haru Invest claimed to have managed deposits using risk-free diversified investment techniques but was found to have invested most client deposits through a single individual. 

Last year, Haru revealed supposed issues with its financial partners and abruptly suspended withdrawals. Users were also barred from depositing more digital assets into the service, and the firm fired about 100 employees. 

Local authorities are also investigating Delio, a cryptocurrency lending platform associated with Haru Invest, after both companies abruptly halted withdrawals last year.