It is now very difficult for Terra (LUNA) employees to leave South Korea. Prosecutors of the country have imposed a departure ban on various developers of the project.
CEO Terra outside South Korea
Prosecutors reportedly imposed the ban to rule out the possibility of key officials within the company going abroad to avoid further investigations.
Terra CEO Do Kwon, who is a key figure in the investigation, currently resides in Singapore. However, this is outside the country. Therefore, it is emphasized that the prosecutor can take measures such as invalidating Kwon’s passport. They can also start a more extensive investigation into Kwon.
Some former employees also get a travel ban
Even some former Terra employees have been banned from travel by the government while the Terra Labs investigation is ongoing. It also appears that none of the employees were notified to avoid any possibility of destruction of evidence while the investigation continues, which is striking to say the least.
Last May, a famous financial crime investigation unit called the “Grim Reapers of Yeouido” was revived by the South Korean government to investigate Terra’s collapse. The team will be made up of a number of different regulators and will focus on prosecuting fraud and illegal trading schemes. It is not yet known exactly when the investigation into Terra will be complete.