Do Kwon unlikely to be extradited before start of SEC trial
Do Kwons lawyers told a US court on Feb. 26 that the Terraform Labs co-founder will be unable to attend the initial hearings of the SEC trial.
The lawyers did not request an adjournment and said the trial could begin as scheduled on March 25 without Kwons presence, according to court filings.
Unforeseen complications
Kwons lawyer, David Patton, said that Kwon, currently in Montenegro, may not be extradited by the end of March due to unforeseen complications in the legal process. He added that these have derailed earlier expectations of a quick extradition.
Patton said the delay is primarily caused by unanticipated mistakes made by the Montenegrin court in charge of Kwons extradition case.
The filing includes a declaration from Kwons Montenegrin defense attorney, Goran Rodic, which highlights several issues with the high courts extradition ruling.
Rodic criticized the Feb. 21 decision, claiming it was based on incorrect information regarding the timing of extradition requests by the US and South Korea. He also raised concerns over several procedural errors during the legal process.
Legal saga continues
Kwon was arrested by Montenegro in March 2023 for using falsified travel documents and has remained there since. The arrest came amid ongoing investigations following the collapse of Terra in May 2022, with Kwons whereabouts previously unknown.
Montenegro found him guilty of possessing forged documents and sentenced him to four months in prison. His extradition case has been ongoing in tandem.
The legal battle over his extradition involves both South Korea and the US. The two countries filed extradition requests with Montenegro following Kwons arrest.
The SECs lawsuit against Kwon and Terraform, filed in February 2023, and subsequent criminal charges by the US Attorneys Office have placed Kwon at the center of allegations involving billions in crypto asset securities fraud.
In December 2023, Judge Jed Rakoff granted summary judgment in favor of the SEC, with the trial scheduled for late March 25.
Meanwhile, South Korea wants him extradited to face trial in his home country. Some of his former associates, including Terra co-founder Daniel Shin, have already faced trial over fraud charges.
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