← Go back Jan 01, 2024
INTERNATIONAL BUSINESS TIMES NEWSLETTER SIGNUP My account Log Out Jan 12, 5:41 AM EST World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Crypto Opinion NEWSLETTER My account Log Out US Edition World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Crypto Opinion Listings & More Spotlight Glossary SMB Forum Glossary K-Wave CEO Spotlight Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States NEWSLETTER Follow Us Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States Crypto Crypto Business Terraform Labs' Do Kwon Seeks U.S. Trial Adjournment Amidst Montenegro Extradition Setbacks By Nica Osorio @nicaIBTimes 01/12/24 AT 5:41 AM EST Share on Facebook Share on Twitter Share on LinkedIn Share on Reddit Share on Flipboard Share on Pocket Launching the Terra Mainnet YouTube Screenshot/ Terra Official YouTube Chanel KEY POINTS Kwon's legal team claims that the crypto mogul's extradition from Montenegro is encountering unexpected difficulties The Terraform Labs co-founder might not be able to make it to the U.S. by February or March to attend his trial Kwon's trial was initially scheduled by the end of January Terraform Labs co-founder Do Hyeong Kwon, widely known in the crypto industry as Do Kwon, has sought an adjournment of a Securities and Exchange Commission's (SEC) trial, citing procedural delays in his extradition process from Montenegro. Kwon's legal representatives have formally notified the court that the ongoing extradition process of the cryptocurrency executive in Montenegro is facing unforeseen challenges. Do Kwon is not expected to attend the SEC's trial in the U.S., originally set for the end of January, and may not arrive until February or March, as per the court documents reviewed by Inner City Press. "Mr. Kwon wishes to attend his trial. Counsel had hoped the extradition proceedings in Montenegro would proceed more quickly than they have. Unfortunately, it now appears that Mr. Kwon is not likely to be extradited until February or March at the earliest. We understand the Court cannot put the trial on hold indefinitely, but an adjournment until mid-March would provide a realistic possibility for Mr. Kwon to attend. For these reasons, Mr. Kwon does not waive his right to attend and requests a short adjournment of the trial date to allow for his attendance," Kwon's legal team told the court. CRYPTO IN THE COURTS: Do Kwon Wants to Attend SEC Terraform Labs Trial So He Asks to Delay It to Mid March for Extradition - Inner City Press story: https://t.co/R3mq5kcsYs Full filing on Patreon here https://t.co/rQd294gK8k pic.twitter.com/3d525J8B4p — Inner City Press (@innercitypress) January 12, 2024 The delay in Mr. Kwon's extradition proceedings in Montenegro follows his legal team's successful appeal made against the High Court's decision to extradite the cryptocurrency mogul to either the United States or South Korea. The Appeals Court in Montenegro recently ordered a retrial because of procedural issues. "The Appellate Court of Montenegro, after the session of the panel on Dec.14, issued a decision in which it accepted the appeal of the defense attorneys of the defendant Kwon Do Hyeong, annulled the decision of the Higher Court in Podgorica Kv.br .1045/23 dated Nov. 17 and sent the case back to the first-instance court for retrial and decision," the statement from the Appellate Court read. Moreover, the Appellate Court noted that the judge failed to properly inform Kwon of the reasons and the evidence for the extradition request of the U.S., as well as invite him to provide his defense, which is required by law. "The investigating judge heard the defendant on the request of the Republic of South Korea, who agreed to be extradited by summary procedure in relation to this request, while he did not hear the defendant in relation to the request for extradition to the USA, which was delivered to that court before its hearing," the statement read. Kwon is under legal scrutiny following the May 2022 collapse of stablecoin TerraUSD and cryptocurrency Luna, resulting in significant losses across the broader crypto market. This has triggered lawsuits against Kwon in various countries, including the U.S., South Korea and Singapore. Read more Gensler 'Denigrated The Whole Crypto Space' After Approving Bitcoin ETF: ARK's Cathie Wood Lazarus Hacking Group Moves Over $1M In BTC From Crypto Mixer Amid Spot Bitcoin ETF Buzz From Skepticism To Possibility: Musk Contemplates Bitcoin For Mars Colony © Copyright IBTimes 2023. All rights reserved. Join the Discussion MOST READ IN Crypto 1 Market's High Stakes On SEC's Favorable Bitcoin ETF Decision Drive Bitcoin Surge 2 Prelude To Bitcoin ETF Approval? Securities Lawyers Weigh In On SEC Chair's Latest Crypto Warning 3 Spot Bitcoin ETF To Start Trading On Thursday: VanEck, Valkyrie Executives 4 X Confirms SEC Account Was 'Compromised' Following False Bitcoin ETF Approval Tweet 5 Shytoshi Kusama Teases Shib Army, Spills Plan For Doge-Killer LEASH NEWS World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Opinion Featured Social Capital Glossary SMB Forum Spotlight Crypto K-Wave CEO Spotlight ABOUT About Us Contact us Advertise with us Terms & Conditions Privacy Policy Cookie Policy Editions United States Australia Brazil Colombia France Germany Indonesia India International Italy Editions Japan Nigeria Singapore South Africa South Korea Spain Mexico United Kingdom FOLLOW US Facebook Twitter LinkedIn Newsletter © Copyright 2024 IBTimes LLC. All Rights Reserved.
Read more: ibtimes
