South Korean district court, LUNAIt decided that .
The Court, however, is the CEO and co-founder of Terraform Labs. Hyun Seong Shin He also denied the security breach accusations against him. Many courts in South Korea have taken precedent decisions in this direction before.
The Prosecutor’s Office Filed an Appeal
The southern district court in Seoul rejected the prosecution’s appeal for the confiscation of Shin’s property and his arrest based on securities law violations.
According to the news shared by a local newspaper, the prosecutor’s office stated that LUNA’s irregular actions are in addition to property-related crimes. Capital Market Law He also argued that the property was violated and therefore it was possible to confiscate the properties. While the court denied the prosecution’s request to confiscate the defendants’ properties, it noted that it was difficult to see that the property subject to the claim was property or assets obtained from the crime.
The lawyer representing Minus CEO Shin said the court rejected the prosecution’s requests for an arrest warrant for former CEO Shin and people associated with the case.
However, the prosecution still believes LUNA is a security. The prosecutor’s office, which thinks that the court decision is wrong, filed an objection against the district court’s decision. Supreme CourtHe applied to .
