Representing counsel of the former CEO of Terraform Lab, Do Kwon, has requested a delay for his upcoming Securities and Exchange Commission (SEC) trial in US court as he is yet to be extradited from Montenegro.
The delay is due to Kwon’s successful appeal for his extradition to the US or South Korea which led to the Montenegro Appeals Court ordering a retrial because of procedural issues.
Do Kwon and Terraform have been charged by the SEC with defrauding investors in crypto schemes. His trial was set to begin at the end of January, however, his counsel stated that it does not look like he will be extradited until February or March. If the trial is to continue without Kwon his legal team requests that his inability to testify be seen as “not unduly prejudicial to him.”
Kwon was sentenced to four months in Montenegro prison for document forgery in late 2023. Both the SEC and Kwon have filed for the US federal judge to make a decision in their favor without trial, claiming that the other side has not argued their case sufficiently.