Currently detained in Montenegro Do Kwon, former CEO of Terra, is seeking a postponement of the Securities and Exchange Commission (SEC) lawsuit filed against him and his former company. Kwon was caught with forged documents at Podgorica airport and has been held in the country ever since.
Former Terra CEO Seeks Postponement of Trial Amid Extradition Uncertainty
Kwon’s legal counsel asked the US court to postpone the case, citing uncertainties regarding Kwon’s extradition process.
According to the filing, which was first reported by Inner City Press, refund processing is not progressing as quickly as expected. Kwon’s lawyer does not expect his client to be in the United States until February or March at the earliest.
The trial is currently scheduled to begin at the end of January. If the court refuses to postpone the trial, Kwon’s attorney requested that the jury be instructed that Kwon’s absence and inability to testify would not unduly prejudice him.
Kwon’s extradition process has encountered delays. His lawyer appealed the Montenegrin supreme court’s decision to extradite Kwon to the United States or South Korea. The Court of Appeals ordered a retrial due to procedural issues.
Meanwhile, in the US, both Kwon and the SEC have filed for summary judgment in their legal disputes.
Both sides are asking a federal judge to rule in their favor without a hearing, claiming the other side has not sufficiently proven its case. This development adds another layer of complexity to an already complex legal situation.
*This is not investment advice.
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