Terra’s Do Kwon Seeks Trial Delay, Citing Extradition Holdup

Terraform Labs co-founder Do Kwon has requested that the justice successful his fraud lawsuit hold the proceedings date, presently acceptable for Jan. 29, 2024, due to the fact that Kwon is inactive tied up successful extradition proceedings successful Montenegro.

Terra’s Do Kwon Requests Trial Postponement Due to Extradition Issues

In a letter to U.S. District Judge Jed Rakoff dated Jan. 11, Kwon’s lawyers said they had hoped helium would beryllium extradited successful clip for the proceedings but that present appears improbable until February oregon March. The missive was archetypal shared by Inner City Press newsman Matthew Russell Lee. Kwon and his ineligible squad said successful the missive that helium wishes to be the proceedings successful idiosyncratic but needs much clip for the extradition process to play out.

“Unfortunately, it present appears that Mr. Kwon is not apt to beryllium extradited until February oregon March astatine the earliest. We recognize the tribunal cannot enactment the proceedings connected clasp indefinitely, but an adjournment until mid-March would supply a realistic anticipation for Mr. Kwon to attend,” the missive states.

The petition comes aft a Montenegro appeals tribunal successful December overturned an earlier ruling approving Kwon’s extradition to the U.S. to look charges related to the spectacular illness successful 2022 of the Terra ecosystem and its signature stablecoin terrausd (UST). Federal prosecutors charged Kwon with assorted counts of fraud for his relation successful processing the stablecoin and blockchain system.

Kwon’s lawyer said successful the missive that if the justice declines to postpone the proceedings date, Kwon intends to inquire that the assemblage person an acquisition astir his lack that is just to him. The missive indicates Kwon powerfully desires to beryllium contiguous for the fraud proceedings stemming from the implosion of his brainchild that outgo investors billions of dollars successful the aftermath.

What bash you deliberation astir Do Kwon’s latest request? Share your thoughts and opinions astir this taxable successful the comments conception below.