Do Kwon unlikely to be extradited before start of SEC trial
Do Kwon's lawyers are not seeking an adjournment and the trial is expected to proceed as scheduled.
Do Kwon’s lawyers told a US court on Feb. 26 that the Terraform Labs co-founder will be unable to attend the initial hearings of the SEC trial.
The lawyers did not request an adjournment and said the trial could begin as scheduled on March 25 without Kwon’s presence, according to court filings .
Unforeseen complications
Kwon’s lawyer, David Patton, said that Kwon, currently in Montenegro, may not be extradited by the end of March due to unforeseen complications in the legal process. He added that these have derailed earlier expectations of a quick extradition.
Patton said the delay is primarily caused by “unanticipated mistakes” made by the Montenegrin court in charge of Kwon’s extradition case.
The filing includes a declaration from Kwon’s Montenegrin defense attorney, Goran Rodic, which highlights several issues with the high court’s extradition ruling.
Rodic criticized the Feb. 21 decision, claiming it was based on incorrect information regarding the timing of extradition requests by the US and South Korea. He also raised concerns over several procedural errors during the legal process.
Legal saga continues
Kwon was arrested by Montenegro in March 2023 for using falsified travel documents and has remained there since. The arrest came amid ongoing investigations following the collapse of Terra in May 2022, with Kwon’s whereabouts previously unknown.
Montenegro found him guilty of possessing forged documents and sentenced him to four months in prison. His extradition case has been ongoing in tandem.
The legal battle over his extradition involves both South Korea and the US. The two countries filed extradition requests with Montenegro following Kwon’s arrest.
The SEC’s lawsuit against Kwon and Terraform, filed in February 2023, and subsequent criminal charges by the US Attorney’s Office have placed Kwon at the center of allegations involving billions in crypto asset securities fraud.
In December 2023, Judge Jed Rakoff granted summary judgment in favor of the SEC, with the trial scheduled for late March 25.
Meanwhile, South Korea wants him extradited to face trial in his home country. Some of his former associates, including Terra co-founder Daniel Shin , have already faced trial over fraud charges.
Mentioned in this article
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Skipped Bitcoin Cash? Qubetics ($TICS) Could Be Your Redemption Ticket – Top Cryptos for Significant Returns
The crypto market has been on fire lately. With the spotlight shifting to new and innovative blockchain projects, everyone’s eyes are on which cryptos will make waves this year.Bitcoin Cash: A Missed Opportunity for Significant ReturnsQubetics: Revolutionizing Digital Finance with Real-World Asset TokenizationConclusion: Time to Act on Qubetics
BTC Short Position by ETH Whale Nears $332M
A crypto whale boosts their BTC short position to $332M, facing losses and potential short squeeze risk.Whale Boosts BTC Short Position Amid Market VolatilityRisk of Liquidation LoomsStrategic Buy Orders Placed

Pakistan Launches Crypto Council Led by Finance Minister
Pakistan forms Crypto Council to boost blockchain and crypto adoption, chaired by Finance Minister Muhammad Aurangzeb.Pakistan Takes a Bold Step Toward Crypto AdoptionFinance Minister to Lead the InitiativeFocus on Innovation and Financial Inclusion

Trump Crypto Project WLFI Buys AVAX, MNT for $4M
Trump-linked crypto project WLFI buys $4M worth of AVAX and MNT, total investment hits $340M with $115M in unrealized losses.WLFI Adds AVAX and MNT to Crypto Portfolio$340M Invested Across 11 TokensHeavy Losses Despite Market Activity

Trending news
MoreCrypto prices
More








