Dissolution of company ahead of crash, family and Singapore ...

[사진=인터넷 캡처]

Regarding the departure of Terraform Labs CEO Kwon Do-hyeong, it is reported that the prosecution believes that CEO Kwon fled ahead of the collapse of the domestic cryptocurrency Luna and Terra. CEO Kwon is currently denying the rumors surrounding him.

According to the prosecution on the 18th, circumstances that could be regarded as a runaway appeared, such as Kwon disbanding the domestic company he was running for coin issuance at the end of April, just before the collapse of the Luna developed by him at the end of April and leaving for Singapore with his family.

In addition, the prosecution tentatively concluded that the escape was obvious, as it was confirmed that most of the key figures related to the company’s finances also left the country before departure. Luna plummeted in early and mid-May.

An official from the Seoul Southern District Prosecutors’ Office explained, “The arrest warrant for Kwon could be issued because the circumstances of the run were clear.” .

Previously, Singapore Police said on the 17th (local time) that Representative Kwon was not in his country and would help the Korean police within the scope of domestic law and international obligations. Within hours of the police announcement, CEO Kwon posted on Twitter, “I’m not on the run.”

Meanwhile, Luna and Terra began to plummet in May, and on the 19th of the same month, the victims sued Kwon and the co-founders on charges of fraud and violation of the Act on the Regulation of Similar Receipts under the Act on the Aggravated Punishment of Specific Economic Crimes. The number of victims in Korea is estimated to be about 280,000.

The Seoul Southern District Prosecutors’ Office’s Joint Financial and Securities Crime Investigation Team (Director Dan Seong-han) recently held the Seoul Southern District Court against six persons residing in Singapore, including CEO Kwon, founding member of Terraform Labs Nicholas Platias, and employee Han Mo, under the Capital Market Act. An arrest warrant was issued for violations.

With the exception of Nicholas Platias, who is a foreigner, the Ministry of Foreign Affairs asked the Ministry of Foreign Affairs to invalidate their passports. If the return is not made voluntarily within two weeks of notification, the Ministry of Foreign Affairs ex officio will invalidate the passport.

The Ministry of Foreign Affairs, in response to the prosecution’s request to invalidate passports, is planning to initiate passport-related administrative sanctions procedures for these five people, including order to return passports and restrictions on passport issuance.