On Thursday, the U.S. Court of Appeals for the Second Circuit ruled that Terraform Labs CEO Do Kwon must comply with a subpoena served by the SEC back in September.
SEC este se pare că investighează last month’s Terra-led market meltdown, brewing additional troubles for Do Kwon and his co-founders.
Surse au spus Bloomberg that the U.S. agency will probe if there were violations of federal investor-protection regulations in the marketing of TerraUSD stablecoin before the massive market havoc. This would call probe to check if other rules around securities and investment products have been violated, including suspiciuni of money laundering by the CEO Kwon.
Reports claim SEC has money laundering evidence
With new allegations of money laundering against Do Kwon, SEC is reportedly looking at a figure of around $80 million as evidence. Reports claim that the money outflowed as the company’s monthly operating expenses in many crypto wallets a few months before the collapse.
Internal statements with the local reporters claim the SEC stated that “the funds flowed into dozens of cryptocurrency wallets.”
While anonymous surse to some media outlets also allege that Kwon did not officially receive any remuneration from Pământ.
In addition, local reports claim that the SEC recently conducted a video interrogation of some of Terra’s key designers. JTBC reporters claim that the key designers predicted the collapse of Terra and Luna before it actually occurred, with nothing done to avoid the debacle.
“We are not aware of any SEC probes into TerraUSD at this time – we’ve received no such communication from the SEC and are aware of no new investigation outside of that involving Oglindă Protocol,” Terraform Labs previously stated.
Oglinda este o Defu protocol on Terra that replicated the performance of stocks while using UST as the stable collateral.
Do Kwon dismisses most chatter as “misinformation”
Meanwhile, Do Kwon recently took to Twitter to state that “we will soon be more proactive in communicating with the press & getting the right information out there.” After maintaining silence for quite some time, the co-founder remarked that “there’s a lot of misinformation and falsehood out there,”
Între timp, Autoritățile sud-coreene have already undertaken a formal investigation into Terraform Labs, with several class-action criminal lawsuits against co-founders Do Kwon and Daniel Shin demanding property confiscation for alleged ‘fraud.’
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Source: https://beincrypto.com/us-court-appeals-rules-do-kwon-terraform-must-comply-with-sec-subpoena/