LUNA, UST, Investors Want to Seize Do Kwon’s Properties -Breaking
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LUNA, UST, Investors Want to Seize Do Kwon’s Properties- LUNA crisis victims pursue legal intervention against Do Kwon.
- This is after Terraform Labs failed to pay investors compensation.
- Investors are reeling from the UST/LUNA crash.
Korea Times reports that fifty South Korean investors are suing to have their property taken by Do Kwon, CEO of Terraform Labs. They have formed themselves as the Korea Blockchain Victims Association.
According to reports in the past, Do Kwon’s family used company funds for luxury property purchases in South Korea. According to reports, the investors plan on filing a criminal case against Do Kwon for fraud and embezzlement.
On top of all of this, the Korea Blockchain Victims Association has threatened legal action against Terraform Labs’ auditor EY and its law firm Baker McKenzie. According to the group, the auditor and lawyer missed key red flags in Terraform Labs’ business activities.
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