Former Chai Corporation CEO Shin Hyun-sung appeared at the prosecution office on the 20th for questioning. He is accused of illicitly gaining approximately 140 billion KRW by increasing the trading volume of Luna and Terra.
The Joint Investigation Team for Financial and Securities Crimes of the Seoul Southern District Prosecutors' Office and the Financial Investigation Division 2 summoned Shin as a suspect for questioning in the afternoon. The prosecution is expected to decide whether to detain Shin after the investigation.
Former CEO Shin co-founded Terraform Labs with former Terraform Labs CEO Kwon Do-hyung. He is accused of illicitly profiting by holding Luna issued before the business started and selling it as the price surged. He also faces charges of breach of trust for causing losses to the company by using Chai Corporation's customer information and funds.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
