Terra (LUNA) Founder Singapore Employment Pass To Expire In December, What’s Next?

Will Singapore Allow Do Kwon to Renew His Employment Permit?

That is an important question about Do Kwon, the founder and CEO of TerraForm Labs (TFL).

According to Bloomberg, Kwon’s employment permit, which grants him the right to work and live in Singapore as a foreign executive, will expire on December 7, 2022. 

Bloomberg writes:

“Kwon has applied to renew his Employment Pass, which gives him the right to work in Singapore and which expires on Dec. 7, according to the report. Kwon applied for an EntrePass — which is meant to allow eligible foreign entrepreneurs to start and operate businesses in Singapore — and was rejected, the Straits Times said, citing Ministry of Manpower records.”

Whether Singapore would allow Kwon to renew his license following the unfortunate incident that occurred in the past few months that prompted South Korea to issue an arrest warrant for the Terra boss. 

Regent Law criminal lawyer Rajan Supramaniam told Bloomberg:

“If there’s a police case or lawsuit against a work-pass holder or other adverse records like involvement in a scam, Singapore takes those factors into consideration when considering the person for renewal of the pass.”

In past and present, FatMan pseudonymous whistleblower has been using his Twitter account to share interesting details about the Terra boss. FatMan recently accused Terra of receiving the airdrop for the new LUNA tokens created to compensate investors for their losses. 

FatMan disclosed that he had gathered sufficient evidence capable of indicting Kwon as the main culprit for the TFL collapse. Based on this, he said he would be joining a class action lawsuit against Kwon and TFL for causing investors huge losses.