Prosecutors: Terra's Do Kwon Still Have Bitcoin In Swiss Bank, Indicts Daniel Shin
The action came after a South Korean court on Monday dismissed prosecutors’ appeal to confiscate Daniel Shin’s properties and his arrest for violating the Capital Markets Act. Terra Founders Do Kwon and Daniel Shin Faces Prosecutors’ Wrath The Seoul Southern District Prosecutor’s Office indicted Terra co-founder Daniel Shin and seven others without detention for multiple charges including fraud, breach of duty, and embezzlement. While two were indicted for breach of trust, reported Korean news agency Yonhap on April 25. Shin and others pocketed nearly $300 million won in illegal profits from Terra ecosystem tokens by marketing and promoting these cryptocurrencies. In a press conference after the prosecution indicted 10 people, head prosecutor Dan Seong-han said the prosecutor’s office will continue to track Bitcoin holdings and transactions by TFL and LFG. Do Kwon still have Bitcoin worth millions in a Swiss bank, after converting some into cash last year....