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SEC Demands Do Kwon Be Questioned In The U.S., But His Lawyers Say It's Impossible

SEC Demands Do Kwon Be Questioned In The U.S., But His Lawyers Say It's Impossible


Terraform Labs co-founder Do Kwon is currently in custody in Montenegro. He is accused of fraud, causing the collapse of the Terra ecosystem. The SEC is pushing for Kwon to be questioned in the US.

Do Kwon's attorneys responded to the SEC's statement by saying that the interrogation is impossible because their client is abroad, but they can hold the deposition in a Montenegrin court at hearings on October 13 and 26. Yet, the SEC responded negatively to this offer and insists on questioning in the States before October 13.

The defense team filed a reply statement emphasizing the fact that the SEC did not set a specific date and did not communicate it to the court or to the defendant. The statement also said that the SEC misinterpreted their client's request, as Kwon did not actually object to the deposition request.

The statement also indicates there was no valid request from the SEC, so Kwon's lawyers are asking that the regulator's motion be canceled.

The SEC's initial complaint against Kwon was based on the fact that his company advertised the Anchor Protocol product and misled investors. On Feb. 16, the regulator filed the first lawsuit against Do Kwon. Kwon is currently in custody in Montenegro, where earlier this year local police caught him and Terraform Labs CFO Han Chang-Joon trying to use fake passports.

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