South Korean watchdog reportedly fines Terraform Labs $78M for tax evasion
According to South Korean corporate tax laws, foreign-registered companies are treated as domestic if the decision-making process and operations are carried out from the country. Terraform Labs and co-founder Do Kwon continue to attract more legal trouble in the wake of the collapse of the Terra ecosystem. After early reports of a possible congressional hearing and an investigation from 'Grim Reapers' financial crimes unit, the crypto firm has now come under the radar of the national tax agency.According to a report published in Naver news, South Korea’s national tax agency has slapped the....
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A warrant for the arrest of Do Kwon and five others has reportedly been issued by prosecutors in South Korea. The prosecutors allege that Kwon and his co-accused violated the country’s capital markets law. In addition to the arrest warrant, prosecutors will reportedly request an Interpol red notice for the Terraform Labs chief executive officer. Terraform Labs Executives Accused of Violating South Korean Capital Markets Law Prosecutors in South Korea have reportedly issued an arrest warrant for Terraform Labs co-founder and chief executive officer Do Kwon. The prosecutors allege....
Terraform Labs employees have reportedly been prohibited from exiting South Korea as investigations by prosecutors continue. Terraform Labs employees are reportedly unable to leave South Korea due to the country’s prosecutors imposing a departure ban on key developers of the project.On Monday, Korean media outlet JTBC reported that an investigation team from the Seoul Southern District Prosecutor’s Office imposed a travel ban on key team members of Terraform Labs. The ban was put into place to eliminate the possibility of key officials within the company fleeing abroad to avoid further....