Haru Invest CEO stabbed during fraud trial: report

The head of troubled South Korean crypto lender Haru Invest was reportedly attacked with a knife in the courtroom during a fraud trial.

The chief executive of South Korean crypto yield platform Haru Invest Hugo Hyungsoo Lee was attacked with a knife in the courtroom during the ongoing fraud trial against him, South Korean media outlet Digital Asset reported on Aug. 28, citing sources present at the trial.

The assault reportedly occurred in the Seoul Southern District Court, where Lee was seated at the defendant’s bench. Lee had been under scrutiny since the suspension of deposits and withdrawals at Haru and Delio in June 2023. He was indicted on fraud charges under South Korea’s Act on the Aggravated Punishment of Specific Economic Crimes in February and was released on bail in July.

Lee was seated at the defendant’s bench when a victim of the Haru incident, identified as “Kang,” attacked him with a concealed 5 cm knife. The assailant, who had been observing the trial, reportedly rushed at Lee and stabbed him multiple times in the neck. Courtroom guards quickly intervened to subdue Kang.

Following the attack, Lee was reportedly seen bleeding on the courtroom floor, which was marked with bloodstains. Emergency services arrived shortly after, and Lee was transported to a nearby hospital. His current condition is not known. Kang was arrested at the scene and is now under police investigation, the report says.

This incident follows recent developments in the Haru Invest case. In February 2024, South Korean prosecutors announced the arrest of three Haru executives, including the two co-CEOs, on charges of embezzling approximately $826 million from around 16,000 users. The firm allegedly misrepresented its investment practices and used misleading advertising for its high-yield products.

Local authorities are also investigating Haru and Delio after both companies abruptly halted withdrawals in June 2023. Haru Invest had claimed to manage deposits using risk-free techniques but was found to have invested most client deposits through a single individual.