Montenegro's Prime Minister Milojko Spajic was one of the early investors in the failed Terraform Labs (TFL). This is reported by local Vijesti with reference to court documents.
In April 2018, he invested $75,000 in the company to receive 750,000 LUNA at a price of $0.1, which secured the policy the 16th place in the list of investors of the company To Kwon.
According to the media, at the same time, along with Spaich, the first tokens totaling about $ 13.75 million were received by 14 more individuals and 10 companies.
In the spring of 2022, at the peak of the price, Terra (LUNA) was trading at $120. If Spaich did not sell the tokens he received, he lost a profit of $ 90 million. Vijesti sources said that he complained to them about the huge losses due to the collapse of the project.
Spaich himself claimed that he had never personally invested in TFL. This was done by the Singaporean company Das Capital SG, where he worked from 2017 to 2020. However, in court documents, it is his name that appears on the list of investors.
https://forklog.com/exclusive/spiral-smerti-terra-kak-i-pochemu-luna-i-ust-poterpeli-krahOn April 5, a jury in the Southern District Court of New York found TFL and Do Kwon guilty of defrauding investors and securities fraud. The trial took nine days and was held in absentia.
Recall that in South Korea, numerous charges were brought against Kwon, including violations of capital markets legislation.
Earlier it became known that he was released from prison in Montenegro after completing his sentence for trying to cross the border with forged documents.
In July, TFL entered into an agreement with the SEC, implying the payment of a fine in the amount of $4.47 billion. CEO Chris Amani announced the termination of operations and asked the community to take control of the Terra blockchain.