South Korea Freezes Do Kwon's $176 Million Worth Assets
Do Kwon Assets Frozen The assets include Kwon’s Seoul residence, real estate, imported cars, securities deposited with Mirae Asset Securities, deposits with Woori Bank, and crypto assets in cryptocurrency exchanges. Authorities also alleged that Kwon and Terraform serviced unregistered financial securities. advertisement The court’s decision means Kwon cannot move or sell the assets and properties equivalent to the amount of his alleged illegal profits, which will be confiscated following a guilty verdict. The director of Seoul Southern District’s joint financial crimes team told The Wall Street Journal last week that Kwon could face over 40 years in prison if convicted, the heaviest sentence given to a financial crime in South Korea ’s history. Charges Against Terra Founder The Terra founder is facing charges of orchestrating a cryptocurrency fraud both in the US as well as South Korea . He was arrested on March 23, 2023, in ...