South Korean prosecutors ban Terra employees from exiting the country: report
Terra (LUNA) employees are reportedly unable to leave South Korea as the country's prosecutors imposed a departure ban on key developers of the project.
Korean media outlet JTBC reported on Monday that an investigation team from Seoul Southern District Prosecutor's Office has imposed a travel ban on key team members of Terraform Labs. The prosecutors imposed the ban to eliminate the possibility that key officials within the company may go abroad to avoid any further investigation.
The report also highlighted that Terra CEO Do Kwon, who is a key figure in the investigation, is currently staying in Singapore, which is outside of the country. Because of this, the report highlighted that the prosecution may take measures like making Kwon's passport invalid, before being able to launch a more comprehensive investigation on Kwon.
In a tweet, Terra developer Daniel Hong shared that even former Terra employees have received an exit ban from the government. According to Hong, none of the employees were notified to avoid any possibility of destruction of evidence as the investigation continues.
stop asking me why i couldn't make it to NYC frens, this is why: the Korean government imposed an exit ban for all ex-@terra_money employees today pic.twitter.com/5Jds99ZNwQ
Hong also expressed disappointment with the ban. According to Hong, the ban shows that the employees are being treated as a criminal and is unacceptable. The developer noted that employees who might've been willing to cooperate may have changed their minds because of the ban.
Related: Appeals court rules Do Kwon, Terraform Labs must heed SEC subpoena served in September
In May, a famous financial crimes investigation unit dubbed the "Grim Reapers of Yeouido" has been
Read more on cointelegraph.com
