Do Kwon’s Defense Declares SEC’s Deposition Request ‘Impossible’ Amid Ongoing Detention Saga

The ineligible squad defending Do Kwon, the co-founder and erstwhile CEO of Terraform Labs, argues that the U.S. Securities and Exchange Commission (SEC) lacks the capableness to depose Kwon, deeming it an “impossible” feat. Kwon’s ineligible counsel additionally maintains that the SEC’s bid for a preclusion bid is premature, fixed that nary summary judgement question has been tendered by either side, and the cutoff for specified motions remains a period away.

Do Kwon’s Lawyers Label Deposition Bid ‘Impossible’

In a document tendered to the tribunal connected September 22, 2023, it’s unveiled that the SEC is seeking authorization to interrogate the erstwhile CEO of Terraform Labs, Do Kwon. “With little than a period near successful discovery, however, the SEC has not yet been afforded a captious find instrumentality utilized successful astir each civilian case—the deposition of the defendant,” the tribunal papers highlighted.

Yet, different court submission by Kwon’s ineligible counsel connected September 27, underscores their stance that specified a petition is “impossible,” urging for the SEC’s petition to beryllium rejected.

“The SEC’s question seeks permission to instrumentality the deposition of Defendant Do Kwon successful the United States earlier October 13, 2023, adjacent though the SEC knows that Mr. Kwon is detained successful Montenegro with nary scheduled merchandise oregon extradition date,” Kwon’s attorneys wrote. The erstwhile Terraform Labs CEO’s ineligible squad added:

The question should beryllium denied due to the fact that it would beryllium intolerable for Mr. Kwon to look for specified a deposition.

The Terra blockchain ecosystem helmed by Kwon crumbled successful May 2022, starring to his apprehension successful Montenegro successful March 2023 implicit the usage of falsified passports. This peculiar misstep landed Kwon a four-month tenure successful the Montenegro situation system. His lawyers stress that Kwon has already faced the inquisitor’s seat connected aggregate instances. They underscored an alleged 21-hour sermon Kwon had with the SEC during their meticulous two-year-long probe.

This interrogation saga unfolded implicit 2 chiseled days, with Kwon reportedly engaging for a coagulated 5 hours connected each occasion, augmented by a five-hour league orchestrated by the Monetary Authority of Singapore, with the SEC successful attendance. The communicative further includes different voluntary six-hour rendezvous with the SEC, arsenic articulated by the ineligible representatives from Dentons US LLP.

The lawyers importune the “SEC’s question relies connected misrepresentations astir irrelevant grounds to enactment its spurious assertion that it has been incapable to get find from Mr. Kwon.” Authorities from South Korea and the United States person sought Kwon’s extradition for his purported engagement successful the downfall of the Terra blockchain ecosystem and the UST de-pegging debacle.

What bash you deliberation astir Kwon’s lawyers telling the SEC that it is “impossible” to depose the Terra founder? Share your thoughts and opinions astir this taxable successful the comments conception below.