Former Terra developer testifies in South Korean court accusing Do Kwon of intentionally defrauding investors

06/02/2024 11:46

Former Terraform Labs developer Lee testified in a South Korean court that the company's co-founders Do Kwon and Shin Hyun-seung promoted the TerraUSD stablecoin as a potential payment option to investors, even though they knew local regulations banned such products. The testimony came during the questioning of witnesses in the third trial of eight former Terraform Labs members, including Shin, whose full name is not being revealed due to South Korea's privacy rules. (The Block) Yesterday, Montenegro police announced that Han Chang-joon, the former chief financial officer of Terraform Labs, has been extradited to South Korea. Montenegro police said Han Chang-joon had been "handed over" to South Korean authorities so that they could initiate criminal proceedings for several criminal offenses related to financial investment services, investments and capital market fraud, which in South Korea are punishable by life imprisonment. . " "After the appeal, we are still waiting for the (extradition) decision on Do Kwon," said attorney Goran Rodic, who represents Terraform Labs co-founders Do Kwon and Han Chang-joon.

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Former Terra developer testifies in South Korean court accusing Do Kwon of intentionally defrauding investors

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