Court Declines Arrest Warrant Against Detained Terra Executive

$104M Worth Assets of Terra Co-Founder Confiscated by South Korea
  • According to the judge, Yoo returned even after an arrest order had been issued.
  • Yoo faces many charges, including fraud, and breach of duty among a few.

Earlier, it was claimed that the Head of General Affairs for Terra had been taken into custody. It has been claimed that the South Korean police have arrested Yoo Mo, who serves as the head of Terra’s general affairs department. Additionally, it was claimed that this was the first arrest that was connected to the ongoing Terra investigation.

South Korean authorities got an arrest order for Yoo, who is a trusted colleague of Terraform Labs CEO Do Kwon, on Wednesday. Yoo faces many charges, including fraud, breach of duty, and breaches of the Capital Markets Act. District prosecutor Choi Sung-kook acknowledged the arrest but did not disclose the time or place of the arrest.

Warrant Rejected

On Thursday morning, a “direct judgement of warrant” for Yoo was scheduled to be issued by the Seoul Southern District Court. The purpose of this hearing was to reach a final determination about the issuance of the bench warrant. One of the most recent developments, however, is that a South Korean court has thrown down the arrest warrant.

Judge Hong Jin-pyo of the Seoul Southern District Court declined to approve the prosecution’s warrant after interrogating the defendant before arresting Yoo. In his opinion, it’s hard to grasp the significance and need for arrest. According to the judge, Yoo returned to Korea even after an arrest order had been issued.

South Korean news outlets Naver and Yonhap News reported the warrant’s rejection. The question of whether or not Do Kwon would experience the same fate has been further clouded by the new information.

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South Korean Authorities Arrest Terra’s Head of General Affairs

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