The Seoul Southern District Court Monday held the first preliminary hearing for Shin and seven other former Terraform employees for charges including fraud related to the failed Terra-Luna stablecoin project.
The prosecutors said the project caused “astronomical damage” for investors and took 463 billion won in profit.
The prosecutors also said in April that the authorities had frozen 247 billion won in assets. Shin’s lawyers rejected all the allegations at the time.the prosecutors’ second attempt for an arrest warrant for Shin, saying he wasn’t likely to destroy evidence or pose a flight risk. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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