- This included luxury housing, bank deposits and cars
- The crook won’t need them anytime soon
A South Korean court has granted the local prosecutor’s request to freeze Do Kwon’s domestic assets and property worth 233.3 billion Korean won ($176 million).
The assets frozen include Kwon’s private residence in Seoul, real estate, cars and other real estate items.
As well as many securities, cryptocurrencies and bank accounts. For example, Do Kwon has bonds at Mirae Asset Securities Co., deposits at Woori Bank and cryptocurrencies on various exchanges.
Freezing assets means that the suspect can now not use, sell or move them. But final confiscation can only be applied after a court conviction.
“233.3 billion won is the maximum amount of assets and property equivalent to [Kwon’s] illegally gained profit thatRobinhood, Q1 2023, financial results, revenue, stock, trading, active users is subject to restitution,” a Korean prosecutor’s office spokesman commented on the decision.
The office declined to name further plans for Kwon’s remaining assets in South Korea..
They also did not disclose details on how cooperation with foreign authorities to locate and freeze his assets outside of Korea is progressing.
But it is known that Serbia confiscated Do Kwon’s $2.2 million apartment.
The former Terra head was arrested in Montenegro on March 23 and faces 40 years in prison.. A new hearing in the Do Kwon case is set for May 11.