Seoul court rejects arrest warrant for Terraform Labs co-founder Daniel Shin and other company employees

time:2022-12-03 10:08 source:Internet

A Seoul court has rejected an arrest warrant for Terraform Labs co-founder Daniel Shin, whom South Korean prosecutors accused of making illegal profits.The court also rejected arrest warrants for seven other employees of the firm.Prosecutors previously suspected Sheen of holding LUNA coins that were issued without notifying investors. According to authorities, Sheen made an illegal profit of $105 million through these actions.Daniel Sheen himself left Terraform Labs back in 2020.
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