According to Mars Finance news, on June 17, The Block reported that a South Korean court announced on Tuesday that Haru Invest CEO Lee Hyung-soo was found not guilty, dismissing the fraud charges against him. Lee Hyung-soo had previously faced fraud accusations after Haru Invest suddenly closed user withdrawal channels and shut down its office in June 2023. The company allegedly attracted thousands of investors by promising 'full principal repayment' and high returns of up to 25% annually. South Korean prosecutors initially accused the company of unlawfully obtaining 1.39 trillion won (approximately 1.02 billion USD) from about 16,000 investors, but later reduced the amount in formal charges to 880.5 billion won (approximately 650 million USD), involving around 6,000 investors. Prosecutors had requested the court to sentence Lee Hyung-soo to 23 years in prison.