According to an official report from the Prosecutor’s Office (read: full summary), Life intentionally lost two games in the 2015 KeSPA Cup, receiving 35,000,000 won for each loss. Given the dates for the matches, May 3rd and 4th, it follows that Life's opponents were Terminator and Dream. Life had been approached by brokers on behalf of Sung "Enough" Jun Mo, a former StarCraft 1 progamer who had already been found guilty following the Changwon Prosecutor Office's first match-fixing investigation (read: related article) in October of 2015.
In Bbyong’s case, the former CJ Entus captain intentionally lost a single match earlier in January of this year, dropping a single GSL Code A game to DRGLing in return for 30,000,000 won. According to DailyEsports (source), Bbyong was not part of the original investigation, but turned himself in and cooperated with the authorities.
The official report states that Life was found guilty of “obstruction of business”—a crime with no direct equivalent in American law—as well as receiving bribes. Enough, and three others who helped arrange and profited from Life’s match-fixing, were found guilty of crimes such as fraud, bribery, and obstruction of business.
According to Yonhap news (source), Life was found guilty and received a sentence of eighteen months in prison, suspended by three years. A suspended sentence in Korea is similar to pre-emptive probation, with the convicted parties not required to serve their original sentence should they pass the probationary period without infractions. Life was also fined 70,000,000 won, the sum of his compensation for match-fixing.
Life's sentencing is in line with the sentencing from the PRIME match fixing scandal, the Changwon Prosecutor's Office first investigation into match-fixing. Yonhap news reports that prosecutors have appealed the sentencing for being inappropriate, presumably seeking harsher punishment.
Bbyong has also been charged with obstruction of business and receiving bribes, but has yet to receive sentencing.