Shin also faces charges of embezzlement and breach of duty.
, Shin was charged on Tuesday with offenses including fraud, breach of duty, and embezzlement.
Prosecutors at Seoul Southern District Court also indicted nine other people with ties to Terra, some of whom had roles in marketing, systems development, and management, as reported by. The outlet also reports that prosecutors have frozen a total of 246.8 billion won in assets from the individuals they charged.Shin created Terraform Labs with co-founder Do Kwon in 2018.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Terra Co-Founder Daniel Shin, 9 Others Indicted by South KoreaSouth Korea indicted Terraform Labs co-founder Daniel Shin along with nine others on multiple charges including violations of capital markets law related to the Terra cryptocurrency project, which imploded last year.
Read more »
Terra Co-Founder Daniel Shin Indicted in South Korea: BloombergDaniel Shin, the co-founder of terra_money, has been indicted by South Korea on violations of capital markets law amongst other charges. By JamieCrawleyCD
Read more »
Terra (LUNA) Not Proved to Be Security According to South Korean CourtSouth Korean media reports that, similarly to other cryptocurrencies, LUNA is not considered a security in that country
Read more »
South Korean Court Rules Terra Crypto Asset LUNC Is Not a Security – Bitcoin NewsIn its recent ruling, the Seoul Southern District Court noted that it finds it challenging to view LUNC as a financial investment product.
Read more »
Terra Co-Founder and Nine Staff Indicted for Role in Crypto CollapseDaniel Shin said he left Terra two years before the stablecoin’s collapse brought the entire crypto industry to its knees.
Read more »