South Korean prosecutors confirmed that the CEO of Terraform Labs, Do Kwonsent 9 billion won ($7 million) to Kim & Chang – a major South Korean law firm – just before the resounding collapse of the Terra ecosystem.
Kwon’s decision to send millions to the firm was characterized by prosecutors as a deliberate move, allegedly reaffirming his awareness of the impending collapse and anticipating anticipated legal trouble, according to reported the local news agency, KBS News.
As they try to link Kwon’s malicious intent to prepaying the firm, prosecutors believe the information will help in the ongoing fraud case. In addition, Kim & Chang’s lawyers visited Montenegro to meet with Kwon and former Terraform CFO Han Chang-joon.
Earlier, Kwon was detained at the Podgorica (Montenegro) airport after trying to fly to Dubai with false documents. Following his arrest, both the US and South Korean authorities have requested Kwon’s extradition. However, the court has yet to make a decision.
On April 7, it was revealed that South Korean prosecutors suspected Kwon of converting illicit funds from Terra (MOON) to Bitcoin (BTC). Prosecutors requested Binance to stop all withdrawal requests linked to Kwon.
In total, prosecutors identified 414.5 billion won ($314.2 million) in illicit assets associated with Terraform Labs co-founder Kwon and his associates, of which some 91.4 billion won ($69 million) were directly linked to Kwon.
“We provided the Korean authorities with the requested assistance. Since we are unable to comment on the ongoing investigations, for any further comments please contact prosecutors,” a Binance spokesperson said, speaking to Cointelegraph about the case. .
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