The arrest warrant for Yoo Mo (38), former CEO of TMON, who is accused of promoting the cryptocurrency Terra, which plummeted last year, and receiving money in return, was dismissed again following last month's rejection.
On the morning of the 31st, Yoo Hwan-woo, the judge in charge of warrants at the Seoul Southern District Court, conducted a pre-arrest interrogation (warrant hearing) for Yoo, who is accused of embezzlement, and dismissed the warrant, stating, "While a considerable portion of the facts have been established, there is room to dispute some of the charges." Judge Yoo explained, "It is necessary to allow the exercise of the right to defense, and considering the attitude toward the investigation, it is difficult to see a risk of evidence destruction or flight."
According to the prosecution, between 2018 and 2020, Yoo received Luna coins from Shin Hyun-sung, former chairman of the TMON board and former CEO of Chai Corporation, in exchange for promoting the introduction of Terra as a simple payment method at TMON.
After the arrest warrant for Yoo was dismissed on the 18th of last month, the prosecution conducted supplementary investigations and re-requested arrest warrants for both Yoo and former CEO Shin, but both warrants were dismissed?Shin's the day before and Yoo's on the same day.
The prosecution has determined that Yoo received Luna coins worth about 300 million won from Shin's side at the time and sold them at a peak, making a profit of about 3 billion won.
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