Do Kwon on the Run? Terraform CEO Delays Trial to Dodge U.S. Justice

Do Kwon on the Run? Terraform CEO Delays Trial to Dodge U.S. Justice

The former head of Terra is currently detained in Montenegro after being apprehended at Podgorica’s airport with forged documents. Legal representatives for Do Kwon, Terra’s ex-CEO, have formally requested a U.S. court to postpone a securities fraud trial involving him and his former company. The aim is to allow Kwon to attend the trial in person, given his current incarceration in a Montenegro prison.

As per a filing noticed by Inner City Press, Kwon’s lawyers proposed a delay until mid-March, citing the extended process of obtaining permission from Montenegro authorities for his travel to the U.S. Judge Jed Rakoff from the U.S. District Court for the Southern District of New York is expected to make a decision early next week, taking into account input from the Securities Exchange Commission (SEC) and Terraform Labs. Both entities are required to submit their stance on the request by January 15.

Latest Buzz | NYC Mayor Defends Housing Migrants at High School

Should the court reject the plea, the trial is scheduled to commence on January 29, 2024, even in Kwon’s absence. In such a scenario, the judge is likely to remind the jury that Kwon’s inability to testify shouldn’t be considered unduly prejudicial to him, per his legal team’s request.

Breaking Buzz | Delta Takes Off: Profit Soars 2 Billion in 2023, Airline Charts Course for International Growth

Kwon’s extradition has faced prolonged delays, with his counsel recently overturning a Montenegro high court’s decision to extradite him to the U.S. or South Korea. The Appeals Court in the country has ordered a retrial due to procedural concerns.

About Author

John Smith

John Smith is a distinguished journalist, holding a Master's in Journalism from the renowned Columbia University. With a knack for uncovering the most captivating stories, John is the go-to expert for all things related to politics and current affairs. His insightful analysis and commitment to unbiased reporting set him apart in the world of journalism. John's writing ensures you're always in the know about the latest happenings in the USA.

Leave a Reply

Your email address will not be published. Required fields are marked *