South Korean prosecutors confirmed that Terraform Labs CEO Do Kwon despatched 9 billion gained ($7 billion) to Kim & Chang — a prime South Korean regulation agency — proper earlier than the spectacular collapse of the Terra ecosystem.
Kwon’s resolution to ship tens of millions to the regulation agency was flagged by prosecutors as a deliberate transfer, which allegedly reaffirmed his consciousness of the approaching collapse and anticipated anticipated authorized issues, as reported by KBS Information.
Whereas making an attempt to tie in Kwon’s ailing intent in prepaying the regulation agency, prosecutors consider that the knowledge will assist in the continued fraud case. As well as, Kim & Chang’s legal professionals visited Montenegro to fulfill with Kwon and Terraform’s former chief monetary officer, Han Chang-joon.
Beforehand, Kwon was arrested at Podgorica airport in Montenegro after making an attempt to fly to Dubai utilizing pretend paperwork. Following his arrest, each United States and South Korean authorities have sought Kwon’s extradition. Nevertheless, the courtroom is but to determine.
Associated: Terra co-founder in S.Korean crosshairs following Do Kwon arrest
On April 7, it was revealed that South Korean prosecutors suspected Kwon of changing illicit funds from Terra (LUNA) to Bitcoin (BTC). The prosecutors requested Binance to halt all withdrawal requests linked to Kwon.
In complete, prosecutors recognized 414.5 billion gained ($314.2 million) in illicit property related to Terraform Labs co-founder Kwon and his associates, out of which about 91.4 billion gained ($69 million) is reportedly instantly linked to Kwon.
“We supplied Korean LE authorities with the requested help. Since we can not touch upon ongoing LE investigations, for any additional remark, please attain out to the prosecutors,” mentioned a Binance spokesperson, talking to Cointelegraph in regards to the matter.
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