Do Kwon faces financial and securities fraud charges in the U.S., South Korea and Singapore for his role in the Terra-Luna collapse which wiped $40 billion from the cryptocurrency market.
Kwon reportedly transferred the money to Seoul-based law firm Kim & Chang “just before” the collapse of Terra and Luna in May last year, the report said without specifying an exact timeline.has reached out to Kim & Chang for comment, but the firm told Bloomberg it is “unable to provide specifics” and it has “legitimately received the fee” for its legal advisory services.
The KBS report adds that prosecutors in both South Korea and Singapore—both countries where Kwon face charges for violating securities laws—are tracing the source of the funding. Kwon may face additional legal jeopardy if the money was procured by liquidating the company’s own tokens just before its collapse.
Both reports note that the proximity of the payment to Terra and Luna’s collapse may suggest Kwon was expecting this possibility and gearing up for a legal fight.Kwon, who had allegedly been on the run for several months, was arrested in Montenegro in March as he was trying to fly to Dubai using forged travel documents. Immediately after his arrest, U.S.
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