Terra Co-Founder Do Kwon Exempted Again from Extradition
Terra co-founder Do Kwon has achieved another victory in the extradition case against him. The Montenegro higher court has overturned the decision to extradite Do Kwon to the United States, following a panel meeting on March 5, 2024. This is the third time that Do Kwon has successfully fought against extradition, with the Montenegro High Court previously upholding South Korea’s and the United States’ demands for extradition.
Overturned Extradition Decision
The Appellate Court of Montenegro announced its ruling on Do Kwon’s appeal, overturning the decision to extradite him. The court cited a lack of clear and valid reasons for the order of arrival request letter’s crucial data, and did not find any significant violations of criminal procedure provisions. This ruling comes after Do Kwon had previously been granted extradition approval by a Montenegrin higher court and had faced a four-month prison sentence for passport fraud along with Han Chang-joon.
Legal Battle with SEC
Do Kwon and his company, Terraform Labs, are also involved in a legal battle with the Securities and Exchange Commission (SEC) in the Southern District of New York United States District Court. They are seeking to overturn the SEC’s complaint against them, particularly focusing on refuting Dr. Matthew Edman’s evidence as one of the SEC’s primary expert witnesses.
The defendants argue that there have been important errors and modifications to relevant legislation that warrant a reevaluation of the court’s decision to reject their request to exclude Dr. Edman’s comments. This ongoing legal dispute highlights the significance of expert testimony and recent changes in legal norms.
Impact on Terra Prices
Amidst this legal wrangling, the prices of Terra (LUNA) and Terra Classic (LUNC) have seen significant surges in the last 24 hours. Currently, LUNA is trading up 1.2% and LUNC is up 24%, indicating market optimism regarding the outcome of Do Kwon’s legal battles.
Hot Take: Do Kwon’s Extradition Case Takes Another Turn
Do Kwon, co-founder of Terra, has achieved another victory in his extradition case as the Montenegro higher court overruled the decision to extradite him to the United States. This marks the third time that Do Kwon has successfully fought against extradition, highlighting the complexities of international legal proceedings.
The ruling by the Appellate Court of Montenegro cited a lack of clear and valid reasons for the extradition order, emphasizing the importance of due process in such cases. Additionally, Do Kwon and his company are engaged in a separate legal battle with the SEC, adding further complexity to his situation.
Despite these challenges, the prices of Terra and Terra Classic have experienced significant increases, reflecting market optimism regarding the outcome of Do Kwon’s legal disputes. The resolution of these cases will undoubtedly have a significant impact on both Do Kwon and the broader crypto community.
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