Following his apprehension in Montenegro, Terra co-founder Do Kwon has requested the US Securities and Exchange Commission (SEC) delay the trial against him. Indeed, Do Kwon’s legal team has requested the date be pushed back so that he could be in attendance, according to documents first obtained by Inner City Press.
The filing states that Kwon is “not likely to be extradited until February or Mart at the earliest.” Therefore, the legal council has requested the trial be rescheduled to take place in mid-March so that the Terra Labs founder can attend in person. The inability of Do Kwon to attend the event will leave him unable to testify.
Also Read: Terra Luna Founder Do Kwon to be Extradited to the United States
Terra Co-Founder Wants SEC Trial Delayed Until March
The ongoing legal debacle of Terra Labs’ founder has been one of the most interesting stories in crypto. Do Kwon was, at one point, on the run from legal action after he was accused of manipulating the price of TerraUSD Thereafter, he was found in Montenegro with falsified documents.
That apprehension was key in catching the wanted fugitive, with the next step being his extradition. However, that didn’t prove to be a simple endeavor. Ultimately, extradition to the United States was granted but then rescinded in December. Subseuqnlety, the Terra co-founder, Do Kwon, has called for the SEC to delay its trial amid concerns about his attendance.
Also Read: Terra Founder Do Kwon Faces Extradition as Montenegro Court Gives Nod
In the filing, Do Kwon requested the trial be pushed back so that he could attend. If that request is denied, he is set to request jury instructions. Specifically, he would seek to issue details about his absence, and why he was unable to testify. Conversely, the request for delay is seeking the trial to be moved to March.
The SEC issued charges against Do Kwon in February due to the company’s algorithmic stablecoin. Following the massive collapse of the company in May of 2022, the SEC alleged Terraform had orchestrated a crypto securities fraud. Additionally, South Korean prosecutors are also seeking the apprehension of Kwon on similar charges.