New York Jury Finds Do Kwon, Terraform Labs Liable for Fraud in SEC Case
The SEC accused Kwon and his company of misleading investors about the stability of their so-called “algorithmic stablecoin” Terra USD.
The SEC accused Kwon and his company of misleading investors about the stability of their so-called “algorithmic stablecoin” Terra USD.
It remains unclear whether Kwon will eventually be extradited to the U.S. or South Korea to face charges tied to the $40 billion collapse of the Terra ecosystem in 2022.
The Luna/Terra founder will remain in the Balkan country “until a decision is made” on where to send him to face charges.
The Montenegrin High Court’s decision to extradite Kwon to his native South Korea over the U.S. overstepped the limits of its power, according to the supreme state prosecutor.
The decision is now final and cannot be appealed by either Kwon or the U.S., the Terra founder’s lawyer told CoinDesk.
On Thursday, Kwon’s attorney Goran Rodic told CoinDesk via text that a Montenegro court had ruled to extradite him to South Korea.
Kwon had successfully appealed a previous decision by the same court to send him to the U.S.
Han Chang-joon was charged with carrying falsified travel documents alongside Terra co-founder Do Kwon last year.
Local courts may be facing political pressure regarding Kwon’s extradition to the U.S. or South Korea, his Montenegro lawyer Goran Rodic told CoinDesk.
A previous decision that yasal requirements for extradition had been met was rejected by the country’s Appeals Court.