Seven top operators of virtual currency exchange V Global were indicted for a 2 trillion won (about $1.4 billion) fraud and sentenced to prison by an appeals court, ChainCatcher reported.

On August 22, the Suwon High Court overturned the eight-year sentence of the first trial. Yang and others were accused of defrauding about 2.2 trillion won from about 52,000 members through false promises.

The remaining six operators upheld the first-instance verdict and were sentenced to three years in prison and five years of suspended imprisonment. Yang and three others were imprisoned in court.