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Terra co-founder Do Kwon and former chief financial officer Han Chang-joon's bail request is approved by the Montenegro High Court, according to sources familiar with the court proceedings. In addition, the High Court investigation judge ruled that South Korean citizens will remain in prison for extradition to South Korea.
Disgraced Terra (LUNA) founder Do Kwon reportedly relocated tens of millions of dollars worth of crypto away from a Luna Foundation Guard wallet after his arrest in March.
Do Kwon, the founder of Terraform Labs, is under the spotlight again for alleged links with a Montenegrin politician. Milojko Spajic, the founder of the Europe Now party, denies the allegations.
Kwon or "someone under his direction" purportedly moved almost $30 million in crypto after the arrest in Montenegro and cashed out the funds.
Disgraced Terraform Labs Co-founder Do Kwon has an established relationship with an influential Montenegrin politician, according to the Korean news agency Yonhap. Montenegro's Prime Minister revealed this information days before the country's parliamentary elections – scheduled for June 11.
The Korean prosecutor's office revealed that Do Kwon had withdrawn $29 million in assets linked to Terra since his arrest.
South Korean authorities are investigating the whereabouts of about $29 million worth of cryptocurrencies allegedly moved from a crypto wallet controlled by Do Kwon's Luna Foundation Guard (LFG).
Investigators say that the founder of Terra Luna, Do Kwon, withdrew $29 million in crypto from an entity linked to his failed blockchain company.
Crypto Market News: As part of the Terra LUNA crisis related prosecution of Terra co-founer Daniel Shin, South Korea prosecutors are set to grill Shin on June 10, 2023. Earlier, CoinGape reported that the court dismissed prosecutors' appeal to confiscate Daniel Shin's assets, citing that LUNA was not a security.
According to a senior South Korean prosecutor, Terraform Labs co-founder and CEO Do Kwon is facing potential legal consequences in the United States and South Korea.
Founder of Terraform Labs, Do Kwon, has withdrawn millions of dollars in crypto from an entity linked to his failed blockchain firm, investigators claim. South Korean authorities are now trying to locate the digital assets that have been allegedly transferred since his arrest in Montenegro in March.
In a recent interview, prosecutors have raised the possibility of dual jail time for Terraform Labs co-founder as legal complexities arise between the US and South Korea.
Do Kwon, co-founder of Terraform Labs, could spend the part spent most of his life in prison when he could be tried and convicted in both places, first in Korea, then in America.
The co-founder and CEO of Terraform Labs, Do Kwon, is facing the possibility of multiple sentences in both the United States and South Korea, according to a senior South Korean prosecutor leading the investigation.
South Korean prosecutors allege Do Kwon has transferred crypto worth millions through a shell company or dummy company linked to Terra since his arrest by Montenegro authorities in March. The Montenegro High Court to decide this week on the bail request of Do Kwon and former CFO Han Chang-joon as prosecutors filed an appeal against
Do Kwon, the disgraced founder of the Terra LUNA ecosystem, which crashed last year in a $40 billion erosion of investors' wealth, is likely to spend most of his life in the jails of South Korea and the US. Both countries have been seeing Kwon's extradition on charges associated with the collapse of LUNA and
South Korean senior prosecutor Dan Sunghan says Kwon's extradition to South Korea makes better sense, but suggested Kwon could also serve time in the US too.
US SEC has declared over 50 tokens, including ADA, LUNA, and TRX, as securities. Let's take a look at these crypto tokens as securities.
The prosecutor heading the probe into Do Kwon and Terraform Labs believes that Do Kwon may be handed a record 40 year prison sentence. The Terra founder could then be extradited to the US to face trial and serve a separate jail term if convicted.
The disgraced former crypto titan Do Kwon may spend most of his life behind bars, first in his native South Korea and then in the US, according to a scenario laid out by Dan Sunghan, who heads the probe into the fallen entrepreneur. Both South Korea and the US are seeking Kwon's extradition.
Reports have emerged suggesting that Do Kwon, the co-founder of Terra, had financial connections to the leader of a political party in Montenegro.
Terra co-founder Do Kwon allegedly had financial relations with the leader of a political party in Montenegro.
Montenegro prosecutors on Wednesday filed an appeal against the Montenegro Basic Court's decision to approve the bail request of Terra co-founder Do Kwon and former chief financial officer Han Chang-joon. The court ruled that Do Kwon and Han Chang-joon will remain in custody until Montenegro's High Court decision on the prosecutors' appeal and acceptance of
According to Montenegro Prime Minister, Terra founder Do Kwon has political relations with Europe Now political party President Milojko Spajić.
