Policy & Regulation

Do Kwon escapes extradition limbo — enters US trial limbo

Published

1 year ago

January 8, 2025

The beginning of Do Kwon’s discovery course of is the ultimate step within the difficult and prolonged authorized course of that has been underway because the $40 billion collapse of Terra/Luna in 2022.

Kwon was ultimately extradited to the U.S. from Montenegro on Dec. 31, and he kicked off the U.S. portion of his ongoing authorized saga by pleading not responsible to 9 federal fraud prices, together with cash laundering conspiracy and securities fraud.

An “preliminary convention” with Decide John P. Cronan can be scheduled for Jan. 8, throughout which the prosecution and protection will collect proof and talk about whether or not or not the case could be settled by a plea discount.

It’s anticipated that authorized events will do that at the moment discourage any wasteful actions previous to the trial and guarantee they’re ready for the invention course of and any litigation.

Learn extra: Montenegro’s prime minister most likely lied concerning the assembly with Do Kwon after the acquisition of Luna

The invention course of can take months as authorized representatives collect proof to current and look at the proof introduced by opposing authorized groups.

For context, former FTX supremo Sam Bankman Fried’s first convention befell on January 3, 2023, and a trial date was set for October 2 – nearly ten months later.

Given the complexity of Terra/Luna’s collapse, it is honest to say Kwon could also be in for the same wait. The costs he faces embrace a most penalty of 130 years in jail.

READ Montenegro’s PM likely lied about Do Kwon meeting after Luna buy

Abstract of Do Kwon

Kwon’s Montenegrin attorneys have beforehand filed six appeals. This time they declare his elimination to the US violates European extradition legal guidelines.

It took simply over a yr for Montenegro’s justice system to lastly extradite Kwon, after a excessive court docket authorized his extradition in November 2023. This ruling was the primary of many to be overturned or reversed.

Prime Minister Milojko Spajić mentioned he hopes the extradition will put an finish to “pre-election manipulations.”

Learn extra: GRAPHIC: Do Kwon’s extradition has seen a complete of 23 developments

Former Prime Minister Dritan Abazović had beforehand accused Spajić of assembly Kwon to purchase Terra/Luna tokens.