Korean e-commerce exec accused of accepting LUNA for shilling Terra Labs

South Korean prosecutors person requested an apprehension warrant for the erstwhile CEO of Tmon, a Korean e-commerce platform, aft taking billions of won successful LUNA (LUNA), present known arsenic LUNA Classic (LUNC), for promoting Terra arsenic a elemental outgo gateway. 

Seoul prosecutors requested an apprehension warrant connected the erstwhile CEO of ecommerce elephantine Tmon for allegedly receiving bribery from Terra cofounder Daniel Shin successful speech for promoting Terra arsenic a outgo method, the Seoul Southern District Prosecutors Office confirmed with maine via text.

Media outlet Dong-A Ilbo reported that the caput of the fiscal and securities associated probe squad astatine the Seoul Southern District Prosecutor's Office requested an apprehension warrant for bribery charges for the erstwhile Tmon CEO described arsenic "Mr. A" and a idiosyncratic described arsenic "broker B" who worked connected lobbying successful the fiscal assemblage successful favour of Terra.

Mr. A allegedly received LUNC tokens from Terra co-founder Shin Hyun-Seong, besides known arsenic Daniel Shin, who successful instrumentality asked him to extensively beforehand Terra arsenic a elemental means of payment. After this, Tmon advertised LUNC and dispersed the connection that the token is simply a harmless asset. According to the investigators, the promotions led to an summation successful the token's terms by raising investors' expectations.

The erstwhile Tmon CEO has allegedly made billions of won aft selling the LUNC tokens received successful speech for the promotions. In summation to this, the study besides highlighted that contempt warnings from fiscal authorities, Shin has reportedly fixed wealth to different companies similar Tmon to beforehand LUNC arsenic a harmless outgo method.

Related: Legal troubles equine for Terraform Labs arsenic Seoul constabulary investigate

On Nov. 14, prosecutors successful South Korea called connected Shin to cooperate successful the probe of the Terra collapse. The authorities alleged that Shin had held LUNC tokens without the cognition of investors and earned much than $105 cardinal successful amerciable income earlier the illness of the company.

The prosecutors successful complaint of the lawsuit person been perpetually expanding their investigations and focusing connected different radical involved. On Nov. 30, an apprehension warrant for Shin, 3 Terra investors and 4 engineers liable for the task were besides issued by South Korean authorities.