A Seoul court denied prosecutors’ request for warrants to detain eight Terraform Labs employees, including co-founder Daniel Shin, early investors, and former engineers.
According to Yonhap News, citing the Seoul court, it’s difficult to believe they would flee or destroy evidence because Shin and the other seven suspects have been cooperating with the investigation. Furthermore, the suspects must be guaranteed their right to defend themselves against the allegations of capital market rules, which is the case’s main accusation, according to the court, according to Yonhap.
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A Seoul court denied prosecutors’ request for warrants to detain eight Terraform Labs employees, including co-founder Daniel Shin, early investors, and former engineers.
According to Yonhap News, citing the Seoul court, it’s difficult to believe they would flee or destroy evidence because Shin and the other seven suspects have been cooperating with the investigation. Furthermore, the suspects must be guaranteed their right to defend themselves against the allegations of capital market rules, which is the case’s main accusation, according to the court, according to Yonhap.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
