SEC Filed a New Request in the Terra Case!

As you may remember Terra (LUNA) stablecoin of the ecosystem TOP’When LUNA lost its stability to $1, there was a huge collapse in LUNA and cryptocurrencies.

After this collapse Terraform Labs and its founder Do KwonMany investigations were opened against him. Do Kwon, for whom an arrest warrant was issued, was caught in Montenegro after running away for a long time.

One of the lawsuits filed against Terraform Labs (TFL) and its founder Do Kwon US Securities and Exchange Commission (SEC) had opened.

There has been a new development in this case. According to Cointelegraph, the SEC requested summary judgment from the court in the Terraform Labs case.

In addition to alleging that Terraform Labs and Do Kwon sold securities in this case, the SEC also alleges that Terraform and Kwon committed fraud. In addition to these allegations, the SEC also claims that TFL and Kwon also spread misleading information.

At this point, the SEC argues that this evidence is indisputably clear, stating that there is evidence that Do Kwon and TFL defrauded investors of $45 billion in violation of securities and exchange laws.

“If the records and evidence are clear and clear regarding any material fact, then it is appropriate to grant summary judgment.”

The SEC also reacted to the jury’s treatment of Do Kwon and the jury’s reluctance to acknowledge Do Kwon’s role in facilitating the frauds that led to the bankruptcy of Terraform Labs.

The SEC requested summary judgment on this matter. “No rational jury could conclude that Do Kwon was not liable for Terraform’s violations of the law under Section 20(a) of the Exchange Act.” said.

Moreover Terraform Labs and Do Kwon, Terra Classic (LUNC), TerraClassicUSD (USTC) and Mirror Protocol (MIR) He had asked the judge to throw out the SEC’s case, arguing that they were not securities as the SEC claimed.

*This is not investment advice.