South Korean prosecutors, Terra form Labs CEO despite allegations of illegal activity Do Kwon and revealed that the company still has billions of won assets in its SYGNUM bank accounts. This came to light after a lawsuit filed by the US Securities and Exchange Commission (SEC) against Kwon and the company in February, accusing the assets of issuing unregistered securities.
U.S. Securities and Exchange Commissionhad transferred 10,000 Bitcoins to Swiss bank Signum, which South Korean prosecutors say was cashed in some and stored in Signum accounts, while others were used to pay legal fees. Founded in Zurich in 2017, Signum is also known as the world’s first crypto asset bank.
Koinfinans.com As we have reported, the Financial and Securities Crimes Joint Investigation Unit of the Seoul Southern District Procuratorate, including former Terraform Labs He tried 10 people involved in the case, including its co-chairman, Shin Hyun-seong, pending trial. Prosecutors also confirmed that some of the funds were transferred to the Kim & Chang law firm account for attorneys’ fees, but the remaining amount is still in the Signum account.
Although prosecutors demanded that the Signum account be frozen, it is a mystery which of the Swiss government’s freezing requests will take priority. Prosecutors also stated that they intend to send him back to Korea to remedy the grievances caused by Do Kwon.
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