It’s been more than two months since Terra (LUNA) collapsed, but the investigation around its founder Do Kwon does not seem to end.
As per the recent developments, co-founder of TerraForm Labs, Daniel Shin’s home and office have been raided by the South Korean Financial and Securities Crime Investigation Team.
On July 20, the investigation team also investigated the country’s 15 companies, including crypto exchanges like Upbit, Bithumb, Coinone, and Gopax.
According to the local media reports, Terra co-founder Daniel Shin’s house, his office, Chai Corp, and other connected firms were raided by Seoul Southern District Prosecutors Team.
After investigating, the team found a few pieces of evidence in connection with the TerraUSD Stablecoin and LUNC fraud, which were seized immediately. As per the allegations, Do Kwon had escaped taxes by transferring the money to several firms, Daniel Shin’s organization being one of them.
The prosecutors also raided the Dunamu & Partners office as the firm had invested in TerraForm Labs in 2018. In Feb 2020, though Dunamu & Partners had revealed that all their LUNA holdings had been converted to Bitcoin, they couldn’t escape the investigation.
As per KBS News, the ongoing investigation has disclosed that there has been an illegal transfer of money from yet another Terra-connected firm, Flexa.
Meanwhile, the prosecutors continue investigating Do Kwon’s location.
Terra (LUNA) Price Rise Amidst Investigations
Additionally, Do Kwon and Terra are also under scrutiny as they had breached Federal investor protection rules. On the whole, the US and South Korean investigators have come together to investigate Terra’s collapse.
Currently, however, these investigations don’t seem to be impacting the TerraClassicUSD (USTC) and Terra Classic (LUNC) prices. For example, Terra (LUNA) is selling at $1.93 with a surge of 2.34% over the last 24hrs.
Ar šis rašymas buvo naudingas?
Source: https://coinpedia.org/news/south-korean-prosecutors-intensify-investigations-against-terra-do-kwon/