Terra co-founder’s assets are not in South Korea ── South Korean prosecutors announced | coindesk JAPAN | Coindesk Japan

Terra co-founder’s assets are not in South Korea ── South Korean prosecutors announced | coindesk JAPAN | Coindesk Japan

Time Stamp: April 7, 2023 10:46 PM
Source Node: 2571770

According to South Korean broadcaster KBS, Do Kwon, the co-founder of the collapsed cryptocurrency issuer Terraform Labs, has left no assets in South Korea. prosecutor announced.
Kwon, who is South Korean, was arrested in Montenegro last month for trying to travel with forged documents. South Korea and the United States have demanded his extradition, and Kwon is likely to face criminal charges in both countries.
South Korean prosecutors have confirmed reports of Forkast by KBS sources, estimating that nine executives made a total of 414.5 billion won ($414 million) at the company. The prosecution also said that the 91.4 billion won (about ¥9.1 billion) owned by Kwon is “almost non-existent” in South Korea.
Terra co-founder and fellow South Korean Daniel Shin is suspected to have about 154 billion won ($154 million). Prosecutors have twice tried unsuccessfully to obtain an arrest warrant for Singh.
The Korea Times reported earlier this week that prosecutors’ inability to obtain an arrest warrant for Singh could make Kwon’s extradition from Montenegro more difficult.
｜Translation: coindesk JAPAN ｜Editing: Toshihiko Inoue ｜Image: Do Kwon (Terra) ｜Original: Do Kwon’s Millions Are Not in South Korea, Prosecutors Say: Report

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