Former Terra CEO Requests Trial Delay
Do Kwon, the former CEO of Terra, has requested a delay in his trial with the Securities and Exchange Commission (SEC) so that he can attend the proceedings. Kwon’s legal team has formally asked a U.S. court to postpone the trial due to uncertainties surrounding his extradition from Montenegro.
Extradition Delays Prompt Trial Postponement
Kwon’s counsel explained that the extradition proceedings in Montenegro are progressing slower than expected, which may result in Kwon not being able to be present in the United States until February or March. As a result, they have requested a trial delay.
Possible Trial Without Do Kwon
If the court denies the postponement request, Kwon’s legal team has proposed that the jury be instructed to consider his absence and inability to testify as “not unduly prejudicial to him.” The trial is currently scheduled for the end of January.
Delays in Extradition Process
Kwon’s extradition process has faced delays as his legal team successfully appealed a decision by the Montenegro high court. The Appeals Court ordered a retrial due to procedural issues.
Summary Judgment Filings
In the U.S., both Do Kwon and the SEC have filed for summary judgment in their legal dispute. Each party is urging a federal judge to decide in their favor without proceeding to trial, arguing that the opposing side has not sufficiently substantiated their case.
SEC Cites Terraform Ruling
The SEC has recently referenced the Terraform ruling in its lawsuits against Binance and Coinbase to strengthen its case.
Hot Take: Do Kwon Seeks Trial Delay for Extradition
Do Kwon, the former CEO of Terra, has requested a delay in his trial with the SEC due to uncertainties surrounding his extradition from Montenegro. His legal team is seeking a postponement as the extradition proceedings are progressing slower than anticipated. If the trial proceeds without Kwon’s presence, his legal team has proposed that the jury considers his absence as not unduly prejudicial to him. The trial is currently scheduled for January, but Kwon’s extradition delays have caused complications. Both parties have filed for summary judgment, urging a federal judge to decide in their favor without going to trial.
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