Terra founder de Coon wins appeal, gets sent to U.S. dismissed again

The post Terra founder de Coon wins appeal, US remittance rejected again appeared on BitcoinEthereumNews.com.

A Montenegrin court has revoked the extradition of crypto-asset entrepreneur Do Kwon to the United States as his trial approaches in NY. This was revealed in a statement issued by Montenegrin authorities on March 5. Mr. De Koon, a Korean citizen, is the former CEO of Terraform Labs, a Korean company that operates the stablecoin ‘Terra USD: TerraUSD(UST)’, which shook the crypto asset market with its collapse in May 2022. De Koon, a Korean citizen who was arrested and imprisoned in Montenegro in March of last year, is being requested to extradite his body from the United States and Korea to hold him criminally responsible for the collapse of the Terraform Research Institute. According to the statement, the appeals court invalidated the decision made by the Dongguk High Court on February 20 and is refusing to extradite Mr. Kuhn’s body to the United States. For that reason, the appellate court cited the lack of clear reasons and facts in the High Court’s decision surrounding the order of delivery requests, and pointed out serious procedural violations in processing new product delivery requests. Kuon is still winning appeals regarding the delivery of new products to the United States or Korea. A ruling in December last year dismissed Dong’s transfer to the United States, and the case was returned to the Podgorica Summary Court for a retrial. In February of this year, the Podgorica High Court again ruled that the request for delivery of new products was valid, but Mr. Kuhn appealed again after that. Additionally, the civil trial against Mr. Kuon by the U.S. Securities and Exchange Commission (SEC), which has been postponed since January, is scheduled to be held in New York on March 25. According to U.S. District Judge Jed Rakoff, there will be no further delays and the trial will proceed regardless of whether Kuhn appears or not. Han Chang-joon, Terraform Lab’s financial officer (CFO), who was arrested in Montenegro along with Mr. Kuhn, is receiving new products in Korea on February 6th, Korean time. Related News Terra founder De Coon’s transfer to the U.S. is worth more than 14.8 billion yen. Terra founder de Coon’s transfer to the U.S. is being retried in a Montenegrin court. A U.S. judge will rule in favor of the SEC in LUNA/UST’s Terraform Lab lawsuit. Reference: Announcement (Sudovi Crne Gore) images: Reuters Source: https://www.neweconomy.jp/posts/375608