Prosecutors believe the information will aid in the ongoing fraud case as they attempt to link Kwon’s prepayment of the law firm to his malicious intent.
South Korean prosecutors verified that Terraform Labs CEO Do Kwon transferred $7 billion to Kim & Chang, a prominent South Korean law firm, just prior to the catastrophic collapse of the Terra ecosystem.
As reported by KBS News, prosecutors identified Kwon’s decision to send millions to the law firm as a deliberate act that allegedly confirmed his awareness of the impending collapse and anticipated expected legal problems.
Prosecutors believe the information will aid in the ongoing fraud case as they attempt to link Kwon’s prepayment of the law firm to his malicious intent. In addition, Kim & Chang’s attorneys traveled to Montenegro to confer with Kwon and Han Chang-Joon, the former chief financial officer of Terraform.
Previously, Kwon was detained at the airport in Podgorica, Montenegro, for attempting to fly to Dubai with forged documents. The United States and South Korean authorities have both requested Kwon’s extradition following his detention. However, the court has not yet rendered a verdict.
Prosecutors identified a total of 414.5 billion won ($314.2 million) in illicit assets linked to Terraform Labs co-founder Kwon and his associates, of which approximately 91.4 billion won ($69 million) is reportedly directly connected to Kwon.
“We aided the Korean law enforcement officials who had asked for our help. Since we cannot comment on ongoing law enforcement investigations, please contact the prosecutors for further information,” a Binance spokesperson told Cointelegraph.
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