The legal team for Terraform Labs and its CEO, Do Kwon, is pushing back against the SEC's attempt to extradite him. They filed a petition yesterday asking the court to deny the SEC's request, arguing it's not feasible to transfer Do Kwon to the US for questioning about the Terra ecosystem's collapse on October 13, especially since he's currently detained in Montenegro with no set release or extradition timeline.
These lawyers also disputed the SEC's alternative move to obtain a preclusion order that would stop Do Kwon from filing a summary judgment motion, claiming this would interfere with the Court's specific Rules of Practice.
Interestingly, even South Korea, Do Kwon's home country, is after him for extradition to investigate his role in the Terra project fallout, which erased around $40 billion from the crypto market. It makes me think, what drives people to pour money into these shaky projects? Don't they do their homework first?
I get that Daniel Shin is a co-founder, but it seems like Do Kwon is the one taking most of the heat in these legal battles. Am I missing something?
His legal team are playing balls but they cannot save him. Based on how popular terra luna and UST were and the number of lives that were wrecked as a result of the crash, I'm not surprised that SEC is requesting for an extradition of Do Kwon to the United States. US is always interested in high profile cases like this and at some point I'm certain the Montenegrin authorities will not be able to stand the pressure but to have him released to the either the United States or South Korean government for trial but I'd prefer the US.
He has been arrested and he's being tried in South Korea.
The saga continues...
I don't envy Do Kwon's fate because if he was caught in the crosshairs of the American justice system, he would be constantly persecuted.
I already wrote earlier that Do Kwon has more money than the annual budget of the entire country of Montenegro, so they will keep him in their country as long as possible
A question for you - why are you opening a new topic when we already have a topic for Do Kwon? -> https://bitcointalk.org/index.php?topic=5446051.0
Human stupidity is endless, and greed and the desire for quick profit are the ideal basis for all scammers who sell their junk for billions. Furthermore, what's the point of research if you don't understand the basics, and the fact is that this idea was doomed from the start.
As for extradition, I would definitely like that scammer to end up in the US because he will receive a much more appropriate punishment there than in South Korea. Now the only question is how much the US wants that criminal, that is, what counter-favor will the Montenegrins demand for his extradition.
Oops, my bad. I guess I was too lazy to check if a thread related to Do Kwon has already been created and I didn't intentionally mean to spam. I'd just lock this one up. Thanks for pointing it out, tho.