Terraform Labs Co-Founder Requests Trial Delay Due to Extradition Proceedings
Terraform Labs co-founder, Do Kwon, is seeking a postponement of his fraud trial, currently scheduled for January 29, 2024. Kwon’s lawyers have reached out to U.S. District Judge Jed Rakoff, explaining that he is currently involved in extradition proceedings in Montenegro, which are expected to extend until February or March. Kwon hopes to attend the trial in person but requires additional time for the extradition process to conclude. Last month, a Montenegro appeals court overturned a previous ruling that had approved Kwon’s extradition to the United States to face charges associated with the collapse of the Terra ecosystem and its stablecoin, terrausd (UST). Kwon’s legal team has stated that if the trial date cannot be postponed, they will ask for a fair instruction regarding Kwon’s absence to be provided to the jury.
Hot Take: Terraform Labs Co-Founder Seeks Trial Delay Amid Extradition Proceedings
Terraform Labs co-founder Do Kwon is requesting an adjournment of his fraud trial due to ongoing extradition proceedings in Montenegro. Kwon’s legal team has communicated to the judge that the extradition process is expected to last until February or March, making it unlikely for him to attend the trial currently scheduled for January 29, 2024. The request follows a Montenegro appeals court’s decision to overturn a previous ruling approving Kwon’s extradition to the U.S. for charges related to the collapse of the Terra ecosystem. If the trial cannot be postponed, Kwon’s team intends to request a fair instruction for the jury regarding his absence.
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