The former Chief Financial Officer of Do Kwon’s Terraform Labs Korea, Han Chang-joon, 37, has been officially detained following the issuance of an arrest warrant by the Seoul Southern District Court, as local news agency Newsis reports. The court’s decision, led by Deputy Chief Judge Kim Ji-sook, cited concerns over the potential flight risk Han poses amidst the ongoing investigation into the Terra-Luna cryptocurrency scandal.
Terra CFO Charged In South Korea
Han Chang-joon is closely associated with Do Kwon, the founder of Terraform Labs Korea, and faces serious charges that include violations of the Capital Market Act, the Aggravated Punishment of Specified Economic Crimes Act, and the Electronic Financial Transactions Act. These charges stem from Han’s alleged involvement in a scheme that South Korean prosecutors say deceived investors worldwide by misrepresenting the Terra project’s viability and potential.
According to the prosecutors, Han, in collaboration with Do Kwon a
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