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South Korean prosecutors mentioned Terraform Labs executives, together with Do Kwon and Daniel Shin, made 414.5 billion gained ($314.2 million) by tricking traders into investing within the failed venture.
In response to an April 7 KBS Information report, the co-founder and former CEO of Chai Shin Hyun-Seong (also referred to as Daniel Shin) made 154.1 billion gained, whereas seven different unnamed workers made 169 billion gained.
The report famous that the Seoul prosecutors had began freezing properties belonging to Shin and these different workers so they may not promote them.
Some belongings the South Korean prosecutors seized embrace flats in Seoul, lands in Hwaseong and Gapyeong in Gyeonggi-do, Taean in South Chungcheong Province, and vehicles.
Do Kwon owns no property in South Korea
Nevertheless, efforts to freeze belongings belonging to Do Kwon has been futile as a result of he owns no asset within the Asian nation.
In response to the report, Kwon made an estimated 91.4 billion gained ($69 million) from the proceeds.
An unnamed prosecutor reportedly mentioned:
“It was discovered that there’s nearly no property owned by CEO Kwon in Korea.”
Kwon reportedly transformed most of his properties into Bitcoin (BTC) and moved them into crypto exchanges exterior South Korea. Prosecutors mentioned they’d contacted Binance to freeze Kwon’s crypto belongings held on the trade.
In the meantime, Kwon is presently held in Montenegro, the place he was arrested with pretend journey paperwork whereas attempting to board a flight to Dubai. Each the U.S. and South Korea need to extradite him to face felony fees.
The publish Terra executives revamped $300M from failed venture; Do Kwon owns no property in South Korea appeared first on CryptoSlate.
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