South Korea deploys its special crime unit, Yeouido Grim Reaper, to investigate the fall of the Terra ecosystem. The report published by a South Korean news agency, SBS, reveals that the Minister of Justice Han Dong-hoon is in talks to investigate Terra’s fall.
The special joint financial and securities crime investigation called Yeouido Grim Reaper was revived back after almost 2.4 years of inactivity. The crime team was canceled as part of a prosecution reform.
The special squad was renamed after the Yeouido financial district of Seoul. The team is now back in action to investigate deeper into the case of Terra. The special team encompasses 48 people, seven prosecutors, and employees hailing from financial services.
As the Luna-Tera case is a case of multiple damage to the common people, it was designated as the first investigation case after an internal review by the Ministry of Justice.An official spoke to the SBS
As per the details published by SBS, the number of domestic LUNA investors stands at 280,000. The victims seem to be restless as they are reportedly suing Do Kwon and proposing to seize his property.
Terra is reportedly being sued for tax evasion
A report by the news agency Naver states that Do Kwon is charged with tax evasion and is facing a 100 billion won ($78.5 million) fine for evading corporate tax. It was alleged that Kwon, who was dissatisfied with the tax policies, was planning to liquidate the firm and move out to Singapore. The suspicion raised the thought that Kwon was moving out to avoid paying fees.
The entire situation is seeming to backfire on Do Kwon, as the whole revival plan 2.0 didn’t receive the warmest welcome. The initial poll revealed that more than 92% of the participants were against the idea of the new proposal.
At this point, it is pretty unclear whether there will be a resurrection for LUNA. At the same time, many think that it can make a comeback with the right approach.