Do Kwon seeks SEC trial delay while awaiting extradition from Montenegro

In step with a court docket filing, embattled Terraform Labs co-founder Invent Kwon needs to prolong his Securities and Substitute Commission (SEC) trial to mid-March, pending his extradition to the country from Montenegro.

In a Jan. 11 letter to Take into consideration Rakoff, as shared by Internal City Press, Kwon’s just appropriate crew printed that their client needs to appear on the court docket. Aloof, his delayed extradition from Montenegro is impeding this availability.

So, he is soliciting for a “short adjournment of the trial date [until mid-March] to permit for his attendance.”

“We note the Court can’t place the trial on retain indefinitely, but an adjournment except mid-March would provide a real looking chance for Mr. Kwon to again,” the letter added.

Nonetheless, if his request is denied, Kwon wants the court docket to verbalize the jury that his absence and unavailability to testify must no longer be “unduly prejudicial to him.”

Kwon has been held up in Montenegro since closing March after he modified into as soon as arrested for trying to dawdle with forged documents. He served a four-month prison sentence in the European country, but his stop modified into as soon as prolonged by two months on account of the coolest disorders surrounding his doubtless extradition to the U.S. or South Korea.

Last December, the Montenegro Court of Charm overturned a lower court docket’s approval of his extradition since the notify breached particular just appropriate provisions.

So, uncertainty looms over where Kwon will be sent. The disgraced crypto tycoon previously expressed want to be extradited to South Korea. Nonetheless, Montenegro’s Minister of Justice reportedly leans towards extraditing him to the U.S.

The SEC charged Kwon with eight prison costs, along side securities law violation, wire fraud, and allegations of defrauding the customers of his failed Terra algorithmic TerraUSD (USTC, previously UST) stablecoin. He faces identical costs in South Korea, where his dilapidated accomplice, Daniel Shin, is in the in the meantime on trial.