Recent revelations unveils that Korean prosecutors have found evidence that Do Kwon, the founder of Terra, wired $7 million to Kim & Chang, a prominent law firm. As per reports, this transfer occurred just before the collapse of Terra.
According to FatMan, a finance researcher at the Terra Research Forum, Kim & Chang has a reputation for defending high-profile criminals and corporations accused of major fraud. The transfer calls into question the legitimacy of Terra’s business practices and Kim & Chang’s possible complicity in the fraud.
In addition, the timing of the $7m transfer has raised suspicions that Do Kwon may have been aware of the impending collapse of Terra and was preparing for legal action. Legal experts further pointed out that the transfer could be seen as evidence of Kwon’s preparation for judicial risks, such as a possible investigation by the prosecution.
In light of these revelations, the investigation into Kwon’s alleged fraud is likely to intensify. This is due to prosecutors closely examining the transfer of funds to Kim & Chang and the law firm’s potential involvement in the case. As the investigation continues, the financial community is eagerly awaiting further developments and hoping for a swift resolution to the Terra scandal.
