Terra founder Do Kwon’s legal team in Montenegro has launched a strong defense against extradition. Lawyers argue that the court decision contains erroneous legal interpretations. Meanwhile, the Supreme Court of Montenegro had overturned a previous decision citing procedural irregularities. Elsewhere, the US SEC is seeking hefty fines from Terraform Labs and Do Kwon for defrauding investors.
Terra founder’s legal battle in Montenegro
cryptokoin.comAs you follow from , Terra co-founder Do Kwon is currently facing extradition requests from both South Korea and the United States. Recently, their legal representatives in Montenegro appealed the decision of the Supreme Court of Podgorica. The court opened the door for Kwon’s extradition to both countries. Kwon’s lawyers launched a strong defense against the extradition order. The defense team argues that the court’s decision lacks a solid legal basis. In fact, they claim it is against the law. The core of their argument revolves around the claim that the court’s interpretation of legal provisions is flawed and controversial.
This claim raises significant concerns about potential political influence in the extradition process. It also raises the issue that the court’s decision may have been driven by external factors rather than an objective assessment of the case. Do Kwon’s legal representatives are requesting a fair and impartial evaluation of his extradition case. While the legal struggle continues, the place where Kwon will be extradited remains unclear. This decision will be made by the country’s minister of justice.
Do Kwon and Terraform Labs face $5 billion fine
The US SEC has sought billions of dollars in damages and civil penalties from Do Kwon and Terraform Labs, the team behind Terra Luna and UST tokens. The SEC is seeking approximately $4.7 billion in damages from Terraform Labs and Do Kwon. It also seeks civil penalties totaling $520 million. Thus, the SEC predicts a total penalty of over $ 5 billion for Do Kwon and Terraform Labs.
Meanwhile, a jury found Terraform and Do Kwon guilty of defrauding investors on April 5. The SEC recommended that Kwon be barred from serving as an officer or director and that his accounts be fully disclosed. It’s possible Terraform could face a conduct-based injunction. The SEC says Terraform and Kwon show no remorse for their actions. It also suggests there is potential for further breaches. That’s why the SEC asks the court to send the message that such brazen abuses will not be tolerated.
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