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(Seoul = Yonhap News) Reporter Eun-kyung Song = CEO of Terraform Labs Kwon Do-hyung (CEO) who was sued and accused of the recently revived Seoul Southern District Prosecutors’ Office of the Financial and Securities Crime Joint Investigation Team (CEO) for the collapse of the Korean coins Luna and Terra USD (UST). ) was investigated.
The Seoul Southern District Prosecutors’ Office announced on the 20th that it had allocated the case of CEO Kwon, who was suspected of a so-called ‘Ponzi scam’, which provided profits to existing investors with the money of new investors, to the conglomerate.
CEO Kwon, along with Terraform Labs Corporation and co-founder Shin Hyun-seong, was sued for fraud by investors who suffered losses from the Lunar and Terra (UST) crash the day before.
LKB (LKB) & Partners, a law firm representing investors, said, “While designing and issuing Luna Terra (UST) and attracting investors, we have been notified of design errors and flaws in the algorithm, not properly notified through white papers, etc. Contrary to this, the act of expanding the issuance of Luna Coins to an unlimited extent is fraudulent.”
The Luna-Tera case became the first case of the Hap Sudan, which was revived following 2 years and 4 months, as the Hapsudan called ‘Yeouido Grim Reaper’ started investigating.
norae@yna.co.kr
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2022/05/20 11:36 Send