Terraform and Do Kwon Near Settlement with SEC

Court documents reveal an agreement in principle to resolve a fraud action between Terraform Labs and its former CEO, Do Kwon, with the US SEC.
Court documents reveal an agreement in principle to resolve a fraud action between Terraform Labs and its former CEO, Do Kwon, with the US SEC.
Kwon’s attorneys have appealed a high court ruling that the justice minister of Montenegro should consider his extradition to either the US or South Korea.
The US SEC has filed a motion against Terraform Labs and its co-founder, Do Kwon, seeking billions of dollars in disgorgement and civil penalties.
Do Kwon may not be extradited to the US or South Korea, according to a ruling, which has been forwarded to the country's minister of justice.
Key Takeaways In a recent jury trial, Terraform Labs and its co-founder, Do Kwon, were found liable on civil fraud charges brought by the U.S. Securities and Exchange Commission (SEC) concerning the collapse of the Terra ecosystem in May 2022. …
Do Kwon was ordered to be extradited to the US or South Korea, but the Supreme Court of Montenegro overturned the ruling.
Do Kwon was released from prison in Montenegro while the Supreme Court considered South Korea's and the United States request for extradition.
Do Kwon cannot be extradited to his home country of South Korea just yet, so the Supreme Court of Montenegro can consider the prosecutors' request.
Due to a challenge from Montenegrin prosecutors that might take the case to the country's Supreme Court, Do Kwon may not be extradited to South Korea to face criminal charges.
Do Kwon, a co-founder of Terraform Labs, filed an appeal that would have prevented his extradition to South Korea, but a Montenegrin court denied it.