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The saga of Terraform Labs co-founder Do Kwon continues to unfold, with a court in Montenegro approving his extradition to either South Korea or the United States.The High Court of Podgorica has determined the legal requirements for Kwon’s extradition, according to an official statement posted on the court’s website on
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Earlier this month, the Montenegro High Court upheld the four-month prison sentence of Kwon and his associate Han Chang-Joon for document falsification, rejecting their appeal and deeming the sentence appropriate, with Kwon facing potential extradition to South Korea or the U.S. after serving his sentence in Montenegro, CoinDesk reported. Original Source
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Do Kwon’s final appeal to undo his incarceration in a Montenegrin prison was refused by a high court, leaving Terra’s former CEO awaiting extradition rather than freedom. The High Court in Podgorica rejected Kwon’s appeal to overturn his jail time issued by a lower court in Montenegro’s capital city. Per Nov. 16
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The legal battle surrounding Terraform Labs is not without controversy. Terra co-founder Daniel Shin’s lawyer has blamed the “unreasonable operation of the Anchor Protocol and external attacks carried out by Do-hyung Kwon” for the Terra ecosystem’s collapse. The United States Securities and Exchange Commission (SEC) is not backing down in its
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The U.S. Securities and Exchange Commission (SEC) is demanding a summary judgment on all claims against Do Kwon and Terraform Labs following alleged breaches. The agency also seeks to forego a full trial due to a clear set of undisputed facts in its lawsuit. It argues that the pooling of funds in a
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The United States Securities and Exchange Commission (SEC) has refuted the jury’s conclusion regarding Terraform Labs’ alleged violations and has demanded a summary judgment on all the claims. A court filing from Oct. 27 showed the SEC’s reluctance to accept the jury’s leniency on Do Kwon and his involvement in facilitating
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Terraform and Kwon also engaged in fraudulent conduct and made misleading statements, the SEC reiterated in the filing, re-emphasizing that they committed fraud by deceiving investors about the stability of UST, falsely crediting their algorithm for its price stabilization while secretly arranging third-party intervention, making their claims about the algorithm's
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Terraform Labs co-founder Do Kwon has requested a United States district judge to reject the securities and fraud suit from the federal securities regulator, claiming it has failed to prove they did anything wrong.In an Oct. 27 filing to a New York District Court, lawyers for Kwon and Terraform argued
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Lawyers representing the investors submitted a notice of voluntary dismissal of the lawsuit against Terraform Labs and Do Kwon in the United States District Court for the Northern District of California. The class-action lawsuits against Terraform Labs and its co-founder Do Kwon alleging fraud, were abruptly withdrawn, leaving the reasons undisclosed. Terraform
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Terraform Labs co-founder Do Kwon has contested the importance of Slack messages presented as evidence. These involved discussions with his co-founder Daniel Shin about manipulating transactions on the Terra blockchain to attract investors.The United States Securities and Exchange Commission (SEC) included the Slack conversation between the two co-founders, dated back
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