The authorized protection for Terraform Labs submitted a court docket submitting that goals to point out that its former CEO, Do Kwon, can’t be extradited to the US.
In a Sept. 27 submitting, the protection’s authorized crew famous that the U.S. Securities and Alternate Fee (SEC) intends to depose Kwon to the U.S. previous to Oct. 13. If the SEC have been profitable, Kwon would supply testimony within the securities case.
Nevertheless, attorneys acknowledged that such an look is “unimaginable” as Kwon is being held in Montenegro and not using a scheduled launch or extradition date.
Protection attorneys moreover requested the court docket to reject the SEC’s different request for aid. If profitable, that request would preclude Terraform Labs from submitting a press release from Kwon on abstract judgment. Legal professionals stated that this may violate court docket guidelines as a result of the SEC didn’t beforehand search permission to acquire such an order, and since neither social gathering has filed a abstract judgment movement regardless of a looming deadline.
Lastly, attorneys stated that the SEC has mischaracterized proof with a purpose to prejudice Kwon. The SEC claims that on-line dialogue logs present that Kwon supposed to make use of Chai, a Korean cost app, to create pretend on-chain Terra transactions.
Protection attorneys insist that the dialog in query truly considerations the staking of LUNA to validators and the technology of transactions between LUNA wallets.
A number of authorities intend to cost Kwon
Kwon was beforehand arrested in Montenegro. In June, he was sentenced to 4 months imprisonment over solid journey paperwork. Authorities within the U.S. and South Korea individually search to implement costs towards Kwon associated to his alleged wrongdoing inside the context of his Terra and Luna crypto initiatives.
The SEC’s case considerations each Kwon and his former firm, Terraform Labs. The company initiated that civil case in February regardless of Kwon’s absence from the U.S.
Experiences from March recommend that Kwon individually faces legal costs from the Division of Justice (DOJ), as soon as once more inside the US.
The publish Terraform Labs’ protection crew says extraditing Do Kwon to the U.S. for SEC testimony is ‘unimaginable’ appeared first on CryptoSlate.
