South Korean judge rejects arrest warrants against Terra co-founder Do Kwon and his former associates

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Judge Hong Jin-Pyo said that there was little chance of Shin Hyunseong or other Terra associates destroying evidence in the case against the platform. News Collect this piece of crypto history. Judge Hong Jin-Pyo, an NFTA judge at the Seoul Southern District Court, has reportedly dismissed arrest warrants for Terra cofounder Shin Hyunseong and 3 Terra investors and 4 Terra developers. According to the report, Terra co-founder Do Kwon was also facing legal action in South Korea over his role in the collapse of the company. “The Seoul Southern District Court’s ruling on Dec. 3rd to reject South Korean prosecutors’ detention warrant requests for former Terraform Labs employees once again illustrates the unfounded nature of the prosecutors’ claims,” a Terra spokesperson said to Cointelegraph.Authorities in South Korea arrested Terraform Labs’ head of business, Yoo Mo, in October, but Judge Hong dismissed the warrant in a similar manner within 48 hours, saying it was difficult to see the “necessity and significance” of the arrest. Kwon, however, was still the target of regulators and lawmakers. He was added to Interpol’s Red Notice List and he no longer holds a South Korean passport for international travel. In September, Terra’s co-founder stated that he was making “no effort to hide” from the authorities. Martin Shkreli, a notorious hedge fund manager and pharmaceutical chief, spoke to him on a Twitch podcast about FTX and prison life.