Do Kwon Criminal Trial Set for 2026 as Lawyers Deal with ‘Massive’ Trove of Evidence

NEW YORK, NY — Terraform Labs co-founder and erstwhile CEO Do Kwon’s transgression fraud proceedings successful the U.S. has been tentatively scheduled for adjacent January, allowing prosecutors and Kwon’s defence attorneys capable clip to reappraisal the “massive” six-terabyte trove of information expected to beryllium produced during the find process.

During an archetypal proceeding successful Manhattan connected Wednesday, pb authoritative Jared Lenow told the tribunal that the authorities expected to look further delays owed to challenges accessing encrypted accusation and unlocking 4 compartment phones provided by Montenegrin authorities erstwhile they extradited Kwon to the U.S. connected Dec. 31st. Lenow added that the authorities indispensable besides construe extracted worldly from Kwon’s autochthonal Korean.

“Sounds similar we’re going to beryllium backing up a U-Haul to the Southern District,” District Judge Paul Engelmayer of the Southern District of New York (SDNY) quipped connected Wednesday.

Engelmayer said that scheduling the commencement day of a proceedings for implicit a twelvemonth from the archetypal league was "unprecedented" successful his vocation arsenic a judge. He told Kwon’s pb attorney, Michael Ferrara of Hecker Fink LLP, to inquire his lawsuit — presently being held without bail successful a section correctional installation aft spending 22 months successful custody successful Montenegro – if helium would alternatively person an earlier trial. Engelmayer gave the defence 1 week to petition an earlier day successful 2025.

Last week, Kwon pleaded not blameworthy to a nine-count indictment charging him with securities fraud, ligament fraud, commodities fraud and wealth laundering conspiracy stemming from the $40 cardinal implosion of the Terra/LUNA ecosystem successful 2022.

Kwon and his institution were charged with civilian fraud by the U.S. Securities and Exchange Commission successful 2023, and were subsequently recovered blameworthy by a New York jury. Together, they were ordered to wage $4.5 cardinal successful penalties and disgorgement, with Kwon himself contributing $200 million. Terraform Labs has since filed for bankruptcy.

The adjacent presumption league successful the lawsuit is scheduled for March 6 astatine 11 a.m. eastbound time.