• Prosecutors in South Korea have confirmed that Terraform Labs CEO Do Kwon sent 9 billion won ($7 million) to Kim & Chang, a prominent South Korean legal firm, shortly before the crash of the Terra ecosystem.
• Investigators believe that this payment is evidence that Kwon knew a collapse was imminent and was making preparations for potential legal issues.
• Additionally, attorneys from Kim & Chang travelled to Montenegro to meet with Kwon and Han Chang-joon, Terraform’s former CFO.
Do Kwon’s Payment to Legal Firm Before Crash
Prosecutors in South Korea have verified that just before the catastrophic breakdown of the Terra ecosystem, Terraform Labs CEO Do Kwon sent 9 billion won ($7 million) to Kim & Chang, a prominent South Korean legal firm. Prosecutors reportedly cited Kwon’s choice to pay millions to the law firm as evidence that he knew the business was about to fall and was preparing for potential legal troubles, as reported by KBS News.
Stronger Case Against Do Kwon
Prosecutors think this new evidence will aid their investigation into Kwon’s alleged fraudulent behavior in prepaying the legal firm. In addition, attorneys from Kim & Chang travelled to Montenegro to meet with Kwon and Han Chang-joon, Terraform’s former CFO.
Kwon was previously apprehended at the airport in Podgorica, Montenegro, for attempting to travel to Dubai on false identification. Authorities in both the United States and South Korea have requested Kwon’s extradition since his detention. But it depends on what the court decides. On April 7th, it came out that authorities in South Korea believed Kwon had transferred illegal money from Terra LUNA to Bitcoin. Prosecutors asked Binance to freeze Kwon’s account and cancel any withdrawal requests.
Kown’s Criminal Assets
Prosecutors determined that Kown co-founder of Terraform Labs had amassed criminal assets worth 414.5 billion won ($314.2 million). Around 91.4 billion won ($69 million) is allegedly directly related to him according Binance spokesperson who provided assistance when requested by LE authorities but could not comment due ongoing investigations .
Binance spokesperson stated: “We provided Korean LE authorities with the requested assistance.” Since they cannot comment on ongoing LE investigations they asked anyone for more comment contact prosecutors directly .
With this new evidence prosecutors hope they can prove fraudulant activities by Do kown leading up his arrest at an airport in Montengro while travelling using false identification documents .