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The cryptocurrency entrepreneur Do Kwon will likely miss at least the start of a scheduled March 25 trial on U.S. Securities and Exchange Commission fraud charges because of a delay in extraditing him from Montenegro, his lawyer said on Monday.
The legal saga surrounding Terraform Labs founder Do Kwon may see yet another twist.
The Terraform Labs co-founder, who has been in Montenegro since his arrest in March 2023, will reportedly be extradited to the United States to face fraud charges.
In a thrilling plot twist witnessed around Terra founder Do Kwon's legal chronicle, the high court of Podgorica, Monetgro's capital, recently cast a shadow on the extradition of the Terra founder to the United States, stating that this decision might be overturned again. This comes despite the court's recent decision to extradite Kwon Do-hyung, birthing
The court has established crucial pretrial deadlines and procedures in a significant development in the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Terraform Labs, along with its co-founder, Do Kwon.
Do Kwon's extradition to the U.S. was decided on Feb. 21, but his attorneys are not surrendering arguments against the decision by a Montenegro High court.
Co-founder Do Kwon of Terraform Labs is set to relocate to the United States amidst allegations of fraud related to significant losses suffered by American investors associated with an algorithmic stablecoin.
The presiding judge in a lawsuit playing out in the U.S. District Court for the Southern District of New York between the Securities and Exchange Commission and Terraform Labs — creator of the ill-fated UST and Luna cryptocurrencies — is progressing with new pretrial deadlines that have been set.
The legal hassle of Do Kwon, Terraform Labs' ex-CEO, has now taken a new twist as his defense promises to fight a recent court ruling in Montenegro. This ruling that supports his extradition to the United States rather than to South Korea has triggered common legal warfare.
Montenegro court approves extradition of Terraform Labs' Do Kwon to the US, where he faces fraud charges.
The court presided over by Judge Jed S. Rakoff, has recently approved an order outlining pretrial deadlines and procedures.
The infamous founder of the bankrupt Terraform Labs will soon be extradited to the United States upon the order of a Montenegran high court.
The court in the United States is taking action in the case involving Terraform Labs and its co-founder Do Kwon. They've set deadlines and other steps before the trial starts.
Terra Vs SEC: In the latest development in the U.S. Securities and Exchange Commission (SEC) lawsuit against beleaguered Terraform Labs and co-founder Do Kwon, the court has set pretrial deadlines and other procedures. The move comes amid news of Do Kwon's extradition from Montenegro to the United States.
Montenegro's government denied South Korea's request to extradite Do Kown, and he may be heading to the USA!
The High Court of Podgorico has rejected the extradition request from South Korea.
In a recent development reported by the Wall Street Journal on February 22, 2024, the court in Montenegro has ruled that the infamous cryptocurrency entrepreneur Do Kwon should be extradited to the U.S. to face trial on fraud charges, rejecting his native South Korea as the extradition location.
Do Kwon extradition has been approved by the court with the United States as destination from Montenegro over the collapse of TerraUSD.
The High Court of Montenegro has reportedly approved the Terraform Labs co-founder's extradition. But, where is he headed?
Terraform Labs co-founder Do Kwon is set to be extradited to the United States after a Montenegrin court's final decision. What Happened: The Podgorica High Court denied South Korea's request to extradite Kwon, according to local reports.
A court in Montenegro on Wednesday ruled that crypto entrepreneur and Terraforms Labs co-founder Do Kwon should be extradited to the United States, rather than to his home country South Korea, to stand trial on fraud charges, the Wall Street Journal reported.
Terraform Labs founder Do Kwon is set to be extradited to the United States, marking a significant development in the ongoing legal saga surrounding the collapse of the digital currency TerraUSD. This decision comes after legal challenges in Montenegro, where Kwon has been held since his arrest in June 2023.
Montenegro's High Court has denied South Korea's request for the extradition of crypto magnate Do Kwon, opting instead to extradite him to the US, local media reported Feb. 21.
Do Kwon, former crypto billionaire and founder of the Terra (LUNA) ecosystem, will be sent to the United States to face fraud charges. In 2022, Terra's UST stablecoin and its associated altcoin LUNA went to virtually zero after its pegging mechanism didn't work as intended, wiping out roughly $40 billion in value within days.
