Do Kwon Gets Delay of Terraform Trial to March 25 as SEC Cited his Extradition Consent

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, Jan 15 – The SEC's case against  Terraform Labs is moving toward a January 2024 trial. That is, unless summary judgment is granted - arguments were held on November 30.

 On November 30 US District Court for the Southern District of New York Judge Jed S. Rakoff held summary judgment motion arguments. Inner City Press was there and live tweeted, thread

More (Nov 30) on Substack here

On December 28 Judge Rakoff issued a 71 page order including that

The Montenegrin authorities did not so oblige, and Kwon thus did not submit a declaration. Kwon now argues that granting summary judgment for the SEC in the absence of such a declaration violates his Fifth Amendment right to procedural due process. That argument wins credit for color, but that is all." Full order on Patreon here

On January 11, Do Kwon's counsel wrote in to say he wants to attend but "is not likely to be extradited until February or March at earliest." He asks for a delay to mid-March or an instruction to the jury why he is not present - full letter on Patreon here

On January 15, MLK Day, the SEC wrote it that "based on Kwon’s counsel’s representations that he has consented to extradition to the United States, that his extradition is imminent, that Kwon “wishes to attend his trial,” and that he would have no ability to consult with defense counsel if the trial went forward on January 29, 2024, ECF No. 161 at 1-2, the SEC joins in Kwon’s request." Letter on Patreon here.

On January 16 Judge Rakoff ruled: "ORDER: Accordingly, the trial is hereby moved to March 25, 2024, at 9:30 AM. No further requests from any party for any further adjournment will be entertained. SO ORDERED. (Signed by Judge Jed S. Rakoff on 1/16/2024)."

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