Do Kwon, the co-founder of Terraform Labs, is making headlines in the crypto sphere for his steadfast resistance to an extradition request by the U.S. Securities and Exchange Commission (SEC). The regulatory body wants to interrogate him concerning the downfall of his business empire.
Do kwon’s legal team opposes his extradition to the USA
As the SEC prepared to launch its questions for the investigation into the decline of Terra Luna, the legal team of Do Kwon firmly rejected any extradition attempt.
On September 27, attorneys for Do Kwon submitted a brief to the U.S. District Court for the Southern District of New York, aiming to dismiss the SEC’s petition to interrogate their client in the United States.
They argued that the request was simply “unfeasible” due to Kwon’s current detention in Montenegro, far from American jurisdiction, and his lack of prospects for release or extradition. They also noted that providing written testimony would conflict with Kwon’s right to a fair trial, as guaranteed under American law.
An order requiring something impossible has no practical purpose and risks undermining judicial authority.Kwon’s defense statement
Additionally, Kwon’s defense clarified that they are not opposed to a deposition, but insist that this procedure take place in Montenegro, where the co-founder of Terra is currently detained.
The SEC seeks a face-to-face meeting with Do Kwon regarding the Terra case
Last week, the SEC requested the court’s permission to meet with Do Kwon to discuss the collapse of Terra Luna before the discovery deadline of October 13.
However, Kwon revealed that a Montenegrin court had informally suggested holding a hearing on either October 13 or 26, during which it planned to question Kwon on behalf of the SEC.
The SEC for its part, informed that it may not consider this process sufficient, and that Kwon may be reconvened after the deadline.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.