{"id":14517,"date":"2024-06-19T19:49:13","date_gmt":"2024-06-19T16:49:13","guid":{"rendered":"https:\/\/forklog.com\/en\/montenegros-prime-minister-linked-to-early-investment-in-terraform-labs\/"},"modified":"2024-06-19T19:49:13","modified_gmt":"2024-06-19T16:49:13","slug":"montenegros-prime-minister-linked-to-early-investment-in-terraform-labs","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/montenegros-prime-minister-linked-to-early-investment-in-terraform-labs\/","title":{"rendered":"Montenegro&#8217;s Prime Minister Linked to Early Investment in Terraform Labs"},"content":{"rendered":"<p>Montenegro&#8217;s Prime Minister Milojko Spaji\u0107 was reportedly an early investor in the now-defunct Terraform Labs (TFL), according to local <a href=\"https:\/\/en.vijesti.me\/news\/politics\/712039\/spajic-was-among-the-first-investors,-lost-90-million-dollars#\">Vijesti<\/a>, citing court documents.<\/p>\n<p>In April 2018, he invested $75,000 in the company to acquire 750,000 LUNA at $0.1 each, securing the politician the 16th spot on Do Kwon&#8217;s list of company investors.<\/p>\n<p>Media reports indicate that alongside Spaji\u0107, 14 individuals and 10 companies received initial tokens totaling approximately $13.75 million.<\/p>\n<p>In the spring of 2022, at its peak, Terra (LUNA) was trading at $120. If Spaji\u0107 did not sell his tokens, he missed out on a $90 million profit. Sources from Vijesti revealed he lamented substantial losses due to the project&#8217;s collapse.<\/p>\n<p>Spaji\u0107 claimed he never personally invested in TFL. Instead, it was Singapore-based Das Capital SG, where he worked from 2017 to 2020, that made the investment. However, court documents list his name among the investors.<\/p>\n<p>On April 5, a jury in the Southern District of New York <a href=\"https:\/\/forklog.com\/en\/news\/do-kwon-found-guilty-of-fraud-in-sec-case\">found<\/a> TFL and Do Kwon guilty of deceiving investors and securities fraud. The trial lasted nine days and was conducted in absentia.\u00a0<\/p>\n<p>In South Korea, Kwon faces numerous charges, including violations of capital market laws.\u00a0<\/p>\n<p>Previously, it was reported that he was <a href=\"https:\/\/forklog.com\/en\/news\/montenegro-to-release-do-kwon-amid-extradition-deliberations\">released from a Montenegrin prison<\/a> after serving time for attempting to cross the border with forged documents.<\/p>\n<p>In July, TFL reached an agreement with the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>, agreeing to pay a $4.47 billion fine. The company&#8217;s CEO, Chris Amani, announced the cessation of operations and urged the community to take control of the Terra blockchain.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Montenegro&#8217;s Prime Minister Milojko Spaji\u0107 was reportedly an early investor in the now-defunct Terraform Labs (TFL), according to local Vijesti, citing court documents. In April 2018, he invested $75,000 in the company to acquire 750,000 LUNA at $0.1 each, securing the politician the 16th spot on Do Kwon&#8217;s list of company investors. Media reports indicate [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14516,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1407,852],"class_list":["post-14517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-montenegro","tag-terra"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14517"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14517\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14516"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}