Terraform’s Do Kwon Reportedly Paid $7M to Legal Firm Before Crash

• Do Kwon sent $7 million to Kim & Chang, a prominent South Korean legal firm.
• Prosecutors think this new evidence will aid their investigation.

Prosecutors in South Korea have verified that just before the catastrophic breakdown of the Terra ecosystem, Terraform Labs CEO Do Kwon sent 9 billion won ($7 million) to Kim & Chang, a prominent South Korean legal firm.

Prosecutors reportedly cited Kwon’s choice to pay millions to the law firm as evidence that he knew the business was about to fall and was preparing for potential legal troubles, as reported by KBS News.

More Strong Case Against Do Kwon

Prosecutors think this new evidence will aid their investigation into Kwon’s alleged fraudulent behavior in prepaying the legal firm. In addition, attorneys from Kim & Chang travelled to Montenegro to meet with Kwon and Han Chang-joon, Terraform’s former CFO.

Kwon was previously apprehended at the airport in Podgorica, Montenegro, for attempting to travel to Dubai on false identification. Authorities in both the United States and South Korea have requested Kwon’s extradition since his detention. But it depends on what the court decides.

On April 7th, it came out that authorities in South Korea believed Kwon had transferred illegal money from Terra LUNA to Bitcoin. Prosecutors asked Binance to freeze Kwon’s account and cancel any withdrawal requests.

Prosecutors determined that Kwon, the co-founder of Terraform Labs, and his friends had amassed criminal assets to the tune of 414.5 billion won ($314.2 million), of which around 91.4 billion won ($69 million) is allegedly directly related to Kwon.

Binance spokesperson stated:

“We provided Korean LE authorities with the requested assistance. Since we cannot comment on ongoing LE investigations, for any further comment, please reach out to the prosecutors.”