There was close to no chance of the creator and Terra corporation employees getting rid of the information connected to the lawsuit in a suit with the service, according to Judge Hong Jin-Pyo.
The lawsuit against the former CEO of Terra
Ex-employee of co-founder Do Kwon had an arrest warrant. According to Hong Jin-Pyo, the main judge in the lawsuit against the Terra company, there was a low chance that Shin or members of Terra would obliterate any important info that might be connected to the lawsuit against Terra.
The latter was getting a lot of accusations from cryptocurrency users and investors, which resulted in the arrest of its creator.
On November 29, it was released by the Public Prosecutor’s headquarters for Seoul Southern District. Do Kwon, a co-founder of Terra, is also the target of lawsuits for his part in the company’s demise in South Korea, according to the report, but he is not likely to go back there.
Speaking on behalf of Terraform, a spokesperson told the media that this winter’s prosecution’s allegations served as the basis for the three decisions to reject the arrest warrant sought by South Korean prosecutors against a former Terraform Labs employee.
Suspicious activities
Yoo Mo, Chief executive officer of Terraform Labs, is said to have been detained by South Korean authorities this Fall. However, Hong, the judge, claims to have disregarded the judicial writ within two days due to the need and value of the detention.
On the other hand, as Kwon lacked a valid South Korean passport for international travel, his name was included in the International Criminal Police Organization’s Red Notice.
The businessman continues to be a target for lawmakers and authorities. Even though Kwon has proceeded to post on its web accounts since Terra’s demise, the loss of cryptocurrency users has accused him of being directly responsible for the money lost and developments leading to the present marketplace situation.
After ill-famed hedging stock director and pharmaceutic leader M. Shkreli talked live about the leader of Terra and his absence, the latter spoke on his Twitch podcast in September and claimed he was making no effort to hide from authorities.
