Terraform Labs’ protection staff 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 the US.

In a Sept. 27 submitting, the protection’s authorized staff 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 had been profitable, Kwon would supply testimony within the securities case.

Nonetheless, legal professionals acknowledged 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 various request for reduction. If profitable, that request would preclude Terraform Labs from submitting an announcement from Kwon on abstract judgment. Attorneys mentioned that this might violate court docket guidelines as a result of the SEC didn’t beforehand search permission to acquire such an order, and since neither celebration has filed a abstract judgment movement regardless of a looming deadline.

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

Protection legal professionals insist that the dialog in query really considerations the staking of LUNA to validators and the era 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 fees towards Kwon associated to his alleged wrongdoing throughout 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.

Studies from March recommend that Kwon individually faces legal fees from the Division of Justice (DOJ), as soon as once more inside the US.

The submit Terraform Labs’ protection staff says extraditing Do Kwon to the U.S. for SEC testimony is ‘unimaginable’ appeared first on CryptoSlate.

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