A court filing by the Securities Exchange Commission (SEC) revealed that Montenegrin Prime Minister Milojko Spajic, who took office in October last year, was one of Terra's early investors, investing $75,000 in Singapore's Terraform Labs in April 2018, purchasing 750,000 LUNAs. Before the court filing became public, Montenegro's prime minister claimed that he had never personally invested in a failed cryptocurrency project. Montenegro's prime minister claimed that the company he worked for was defrauded of $75,000, not him personally.