A South Korean court has acquitted Haru Invest CEO Lee Hyung-soo of fraud charges related to the alleged illegal acquisition of 880.5 billion won (approximately $650 million) from investors. The charges stemmed from the sudden closure of Haru Invest's withdrawal channels and office in June 2023, which affected around 6,000 investors. Prosecutors had initially sought a 23-year prison sentence for Lee, accusing the company of promising high returns of up to 25% annualized. The court's decision clears Lee of any wrongdoing in the case.