According to PANews, a new discovery in an April court document has reignited controversy around a failed crypto project, Terraform Labs, just a week after it reached a settlement with the U.S. Securities and Exchange Commission (SEC). The document revealed that Montenegro's Prime Minister, Milojko Spajic, who took office in October last year, invested $75,000 in Terraform Labs in Singapore in April 2018, purchasing 750,000 Luna coins. Spajic was one of the early investors in the company, which was registered in Singapore on April 23, 2018, just days before its establishment.
The revelation was disclosed in a court document submitted by the SEC. Prior to the public release of the court document, the Prime Minister of Montenegro had always claimed that he had never personally invested in this failed cryptocurrency project. Instead, he stated that the Singapore company Das Capital SG, where he served from 2017 to 2020, had invested in Terraform Labs. However, the SEC's court document listed him as the 16th investor and showed that he was one of the earliest investors in the company, having signed a contract with Terraform on April 17, 2018.
In related news from May, reports suggested that Do Kwon had met with the Prime Minister of Montenegro before his arrest, and the two may have reached a transaction agreement.