The Joint Investigation Team for Financial and Securities Crimes at the Seoul Southern District Prosecutors' Office refiled an arrest warrant on the 27th for Shin Hyun-sung, former Chief Executive Officer of Chai Corporation and co-founder of Terraform Labs, the issuer of the cryptocurrency Terra and Luna (37 years old).
The prosecution applied charges against former CEO Shin for fraudulent and unfair trading under the Capital Markets Act, violation of conspiracy regulations, fraud and breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes, violation of the Electronic Financial Transactions Act, violation of the Act on Reporting and Using Specified Financial Transaction Information, mediation of breach of trust, and breach of trust in the course of business.
Previously, in November last year, the prosecution requested an arrest warrant to secure Shin's custody, but the Seoul Southern District Court dismissed it, stating there was "no risk of evidence destruction or flight."
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