Do Kwon Faces Charges In The US
In a significant development for Do Kwon, Montenegro’s top justice official has indicated a preference to extradite Kwon to the United States, rather than his home country South Korea, to face criminal charges. Both countries have been preparing for Kwon’s extradition, with prosecutors eager to bring him to trial for fraud and securities-law violations. Montenegro’s Justice Minister has not officially announced this decision, but it tilts the scale in favor of the United States. A Montenegro court had previously sanctioned Kwon’s extradition but left the final destination decision to the Justice Minister. The U.S. charges against Kwon include serious allegations of financial fraud. Kwon’s legal representatives have lodged an appeal against the extradition decision, and the Ministry of Justice is set to deliver its conclusive verdict by December 15.
SEC Is Ready To Welcome Do Kwon
The U.S. Securities and Exchange Commission (SEC) is pursuing legal action against both Do Kwon and his company, Terraform Labs, accusing them of offering and selling securities without proper registration. In South Korea, Kwon faces charges of fraud and breaching the nation’s capital market laws. A report from The Journal, drawing on information from anonymous sources and a statement from Montenegro’s Justice Minister, indicates that the public will be timely notified about the developments in this case. In the United States, there has been a legal tug-of-war between the SEC and Terraform Labs regarding a deposition from Kwon. The SEC is seeking a decision from a judge to determine if the tokens in question are indeed securities, as claimed by the regulatory body.
Hot Take: Do Kwon’s Legal Battle Continues
Despite his appeal and the ongoing legal battles between the United States, South Korea, and Montenegro, it is clear that the legal troubles for Do Kwon are far from over. The decision regarding his extradition destination will have significant implications for the upcoming legal proceedings, with global attention on the outcome given the scale and impact of the alleged financial fraud.
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