The Uncertain Fate of Do Kwon’s Extradition and its Potential Impact on his Trial with the SEC
Do Kwon, the co-founder of Terraform Labs, may not be extradited to the United States in time for his trial with the SEC due to a series of judicial errors and legal complications, according to his legal team.
According to his lawyer, the ‘summary’ procedure has taken much longer than initially anticipated due to numerous unforeseen mistakes made by the trial court. As of now, I do not expect Mr. Kwon to be extradited – to either South Korea or the United States – before the end of March,’ stated Do Kwon’s lawyer.
Legal Background and Court Decisions
In court documents filed on February 26th with the United States District Court for the Southern District of New York, Do Kwon’s attorney, David Patton, stated that Do Kwon would ‘likely not be extradited before the end of March’ from Montenegro, where he has been residing since March 2023. Patton highlighted ‘unforeseen errors’ that have slowed down the extradition process.
Goran Rodic, Do Kwon’s legal representative in Montenegro, mentioned that a decision by the High Court on February 21st ordering his extradition to the United States was based on ‘erroneous information,’ including the timeline of extradition requests between the United States and South Korea.
Will Do Kwon Miss His Trial with the SEC?
This situation could result in Do Kwon missing the start of his trial with the SEC, which is scheduled to begin on March 25th, 2024. Kwon’s legal team clarified that they will not request a trial extension, despite the possibility of his absence.
Do Kwon has been arrested for using forged travel documents and is facing an extradition battle between the United States and South Korea. The SEC filed a lawsuit against him and Terraform Labs in February 2023, and he was indicted on eight criminal charges by the U.S. Attorney’s Office in March 2023, shortly after his arrest. These charges are related to cryptocurrency fraud involving the Terra ecosystem’s assets UST and LUNA.
