Terraform Labs’ protection group says extraditing Do Kwon to the U.S. for SEC testimony is ‘unimaginable’

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 america.

In a Sept. 27 submitting, the protection’s authorized group famous that the U.S. Securities and Trade Fee (SEC) intends to depose Kwon to the U.S. previous to Oct. 13. If the SEC have been profitable, Kwon would offer testimony within the securities case.

Nonetheless, legal professionals said that such an look is “unimaginable” as Kwon is being held in Montenegro with out a scheduled launch or extradition date.

Protection legal professionals moreover requested the court docket to reject the SEC’s different request for reduction. If profitable, that request would preclude Terraform Labs from submitting a press release from Kwon on abstract judgment. Attorneys 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 get together has filed a abstract judgment movement regardless of a looming deadline.

Lastly, legal professionals stated that the SEC has mischaracterized proof as a way to prejudice Kwon. The SEC claims that on-line dialogue logs present that Kwon meant to make use of Chai, a Korean fee app, to create pretend on-chain Terra transactions.

Protection legal professionals insist that the dialog in query really issues 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 four months imprisonment over cast journey paperwork. Authorities within the U.S. and South Korea individually search to implement expenses in opposition to Kwon associated to his alleged wrongdoing throughout the context of his Terra and Luna crypto initiatives.

The SEC’s case issues 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.

Reviews from March recommend that Kwon individually faces felony expenses from the Division of Justice (DOJ), as soon as once more inside america.

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