South Korean prosecutors have issued a “notification upon arrival” and travel ban on Terra’s founder and co-founder, Do Kwon, and Daniel Shin, South Korean news outlet донга деп билдирди 27-июлда.
A “notification upon arrival” notice means investigators will be informed when a person of interest enters the country and is usually used for crucial investigations only.
До Квон кабарларга lives in Singapore.
The report stated that Kwon has continued offering Terra tokens without informing investors about the risks of such investments.
Terra co-founder targeted with travel ban
The South Korean prosecutors also issued a travel ban on Daniel Shin and former Vice President of Terraform Labs, Kim Mo.
Shin has талап that he cut ties with Terraform Labs in 2020.
South Korean Investigators recently raided Shin’s house and are investigating his company, Chai Corp. The тийип дагы зыян тарткан several crypto exchanges in South Korea, including Gopax, Bithumb, and UpBit.
Investigations have already аныкталган that FLEXE, a dormant company with no physical office, was used to funnel money from Terra-affiliated firms overseas into the country.
A travel ban was also issued to major Terra developers to prevent them from leaving the country.
Terra is facing multiple lawsuits in the US
Project investors have also сотко Do Kwon, Terraform Labs, and other partner firms, including банкрот Three Arrows Capital, in the United States and South Korea.
Meanwhile, the US and South Korea have макулдашылган to collaborate on investigating Terra and other crypto crimes.
Source: https://cryptoslate.com/south-korea-issue-notification-of-arrival-for-terras-do-kwon/