TechFlow news, according to Chosun Ilbo, South Korean prosecutors have referred Han Chang-jun, former CFO of Terraform Labs, for trial after detaining him for 21 days following his arrest on February 8.
According to prosecutors, Han Chang-jun is accused of illicitly profiting at least 53.6 billion won by selling and trading LUNA under the guise of normal operations of the Terra project. He is also charged with violating public offering regulations by selling LUNA without filing securities reports, breaching the Capital Markets Act. Additionally, he is accused of violating the Electronic Financial Transactions Act by recording approximately 100 million electronic payment records of Chinese payment customers onto the Terra blockchain without their consent.
