The start of Do Kwon’s discovery course of is the newest step within the sophisticated and drawn-out authorized journey that has been ongoing because the $40 billion collapse of Terra/Luna in 2022.
Kwon was lastly extradited from Montenegro to the US on December 31 and he kicked off the US leg of his ongoing authorized saga by pleading not responsible to 9 federal fraud fees, together with cash laundering conspiracy and securities fraud.
There may be additionally an “initial conference” with Choose John P. Cronan scheduled for January 8 throughout which the prosecution and protection will collect proof and focus on whether or not or not the case may be settled through settlement.
It’s anticipated that, at this level, authorized events will discourage any wasteful pretrial actions and make sure that they’re ready for the invention course of and any potential trial.
Learn extra: Montenegro’s PM seemingly lied about Do Kwon assembly after Luna purchase
The invention course of can final for months as authorized representatives collect proof to current and study the proof submitted by opposing authorized groups.
For context, former FTX supremo Sam Bankman Fried’s preliminary convention passed off on January 3, 2023, and a trial date was scheduled for October 2 — virtually 10 months later.
Given the complexity of the Terra/Luna collapse, it’s truthful to say Kwon might nicely be in for the same wait. The costs he’s dealing with carry a most sentence of 130 years in jail.
Do Kwon recap
Kwon’s Montenegrin attorneys have beforehand submitted six appeals. This time, they declare his elimination to the US has breached European extradition legal guidelines.
It took Montenegro’s authorized system simply over a 12 months to lastly extradite Kwon after a excessive courtroom authorized his extradition in November 2023. This ruling was the primary of many that might be overruled or reversed.
Certainly, Prime Minister Milojko Spajić stated he hopes the extradition places an finish to “pre-election manipulations.”
Learn extra: CHART: Do Kwon’s extradition has seen a complete of 23 developments
Former Prime Minister Dritan Abazović had beforehand accused Spajić of assembly Kwon to buy Terra/Luna tokens.
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