SEC Seeks to Question Do Kwon’s Terra Co-Founder in South Korea
- US judge said SEC could seek Korean government’s help in case
- South Korean prosecutors have charged Shin and Kwon over Terra
Daniel Shin, co-founder of Terraform Labs, arrives at court in Seoul, South Korea, in December 2022.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
The US Securities and Exchange Commission can seek the South Korean government’s assistance to question Do Kwon’s Terraform Labs co-founder, Daniel Shin, and collect evidence from payments company Chai Corp., a US judge ruled.
The SEC wants to question Shin and get documents from Chai to help prove its suit accusing Terraform and its former chief executive officer, Kwon, of an illegal scheme that wiped out at least $40 billion worth in crypto value. US District Judge Jed Rakoff on Thursday said the SEC can use a process dictated by a 1970 treaty governing requests to gather evidence internationally.