Do Kwon Lawyers Takes $7 Million Before Terra Collapses: Report
Do Kwon, CEO of Terraform Labs, transferred 9 billion won ($7 billion) to Kim & Chang, a prestigious South Korean law firm, just before Terra’s stunning ecosystem collapse, according to South Korean authorities.
According to KBS News, Kwon’s choice to pay the law firm millions of dollars was seen by prosecutors as a premeditated act that reportedly underscored his understanding of the approaching collapse and the anticipated legal troubles.
Prosecutors hope the material will assist in the current fraud prosecution while trying to link Kwon’s crimes to prepaying the legal team. Additionally, former CFO of Kwon and Terraform, Han Chang-joon, was met by Kim & Chang’s lawyers on their trip to Montenegro.
Kwon was previously detained at the airport in Podgorica, Montenegro, after trying to board a flight to Dubai using fake credentials. Both American and South Korean officials have requested Kwon’s extradition since his detention. However, the court has not yet made a decision.
On April 7, it was announced that Kwon was being investigated by South Korean authorities for allegedly converting illegal Terra $1.42 cash into $30,483 Bitcoin. Binance was asked by the prosecution to stop the withdrawal request regarding Kwon.
Prosecutors found 414.5 billion won ($314.2 million) in illegal assets related to Terraform Labs co-founder Kwon and his collaborators, of which 91.4 billion won ($69 million) was purportedly linked directly to Kwon.
“We offered the support requested by the Korean LE authorities. We are unable to comment on active LE investigations, so if you have further questions, please contact the prosecution, a Binance representative told Cointelegraph.
