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A lower court ruling about the extradition of the co-founder of Terraform Labs, Do Kwon, has been reversed by the Supreme Court of Montenegro. The decision was made following the prosecutors' appeal of the appellate court's rejection of Kwon's legal team's appeal.
In the latest Montenegro Supreme State Prosecutor's Office's announcement, the legal proceedings concerning the extradition of Terraform Labs' former CEO, Do Kwon, will revert to the first trial court.
The Supreme Court of Montenegro overturned a decision made by the lower courts concerning the extradition of Do Kwon.
The High Court in Podgorica could decide whether the Terraform co-founder is sent to the United States or his native South Korea to face criminal charges.
Terraform Labs is set to deliver their final arguments in a civil fraud trial accused of defrauding investors with the TerraUSD stablecoin, which led to $40 billion in losses and wider crypto market havoc in 2022.
Another twist in the extradition saga of Terraform Labs founder Do Kwon revealed that the forgery convict will not return to his native South Korea just yet.
The U.S. Securities and Exchange Commission (SEC) lawsuit against Terraform Labs (Terra) and co-founder Do Kwon approaching the end of the jury trial. Defense attorneys from the world's largest global law firm Dentons are going to give final arguments in the federal court today.
Attorneys for Terraform Labs and its founder Do Kwon are expected to give closing arguments on Friday at a trial on claims that Terraform and Kwon defrauded investors before the collapse of their stablecoin shocked cryptocurrency markets in 2022.
Brian Curran, Terraform Labs‘ former head of communications, provided a compelling testimony in a New York City federal court. He detailed his challenging experiences at the company, which led to significant frustration and anger.
In a testimony at a New York City federal court, Brian Curran, the former head of communications at Terraform Labs, disclosed the company's misleading practices. His statements contribute to the ongoing legal scrutiny following the collapse of TerraUSD in 2022.
The ongoing trial involving Terraform Labs, the company behind the algorithmic stablecoin UST (CRYPTO: USTC), took a dramatic turn on Monday with the testimony of James Hunsaker, a former employee of Jump Trading. According to a series of social media posts by journalist Alexander Osipovich, Hunsaker's testimony centered around his claim that Jump Trading colluded with Terraform Labs to manipulate the price of UST.
Today, in the Terraform Labs case, James Hunsaker, a former employee of Jump Trading, made a startling revelation. Hunsaker disclosed that he had lodged a complaint with the SEC against Jump Trading, alleging Do Kwon's involvement in supporting the UST algorithmic stablecoin prior to its collapse, which amounted to $40 billion in 2022.
After spending months on the run following the collapse of the Terra ecosystem in 2022 , Kwon was apprehended in Montenegro for attempting to use fake travel documents. While initially sentenced to four months in prison, his release comes amidst ongoing extradition deliberations between the U.S. and South Korea.
In a courtroom showdown between the U.S. Securities and Exchange Commission and Terraform Labs and its founder Do Kwon in absentia, presiding Judge Rakoff rebuked both sides for arguing off-topic.
In a recent conflict between the U.S. Securities and Exchange Commission (SEC) and Terraform Labs, the judge scolded both defendants and plaintiff's attorneys for posing irrelevant questions in court. Additionally, the judge briefed the jury on essential details of the fraud case.
In the latest tussle between the U.S. Securities and Exchange Commission (SEC) and Terraform Labs, the federal judge slammed both defendants and plaintiff's attorneys for bringing irrelevant questions in the courtroom. Moreover, the judge offered initial instructions to the jury about key details in the fraud lawsuit.
SEC kicks off TerraForm ‘House Of Cards' trial with fraud allegations, but the judge is reluctant to give a verdict.
The SEC's legal case against Terraform Labs has officially started without the presence of former CEO Do Kwon, following delays stemming from Kwon's arrest in Montenegro and extradition proceedings.
The much-anticipated civil trial between Terraform Labs, its embattled founder Do Kwon, and the US Securities and Exchange Commission (SEC) began on Monday in Manhattan, marking a pivotal moment in the ongoing scrutiny of the crypto space and regulatory oversight.
Do Kwon, the co-founder of Terraform Labs, has been released from prison in Montenegro pending extradition to either the U.S. or South Korea to face fraud charges related to the $60 billion collapse of the Terra ecosystem
New developments in the civil battle between Terraform Labs and the SEC, as the court battle begins despite the glaring absence of Do Kwon. Do Kwon's extradition to the US was abruptly halted by the Montenegro court of appeal, cementing the high court's decision to extradite the defendant to South Korea.
Terraform Labs co-founder Do Kwon has been finally released from Montenegro jail as the Supreme Prosecutor had previously questioned the High Court's decision to allow an extradition treaty. Meanwhile, amidst all these multinational legal complexities, the SEC has remarked the Do-Kwon's foundation – the Terraform Labs as the “house of cards”.
SEC accuses Terraform Labs of constructing a fraudulent empire, with the civil trial beginning over a year after the lawsuit was filed.
The SEC has waged a full-blown war with Terra and its ex-founder, Do Kwon. In defense of the right to speak, SEC emphasizes that “this is not a case of technology, trial and error, this is a case of fraud.” While defense lawyers call it a failure. Let's see what is happening.
