Terra | ForkLog

ForkLog 9 23.05.2024

Sam Bankman-Fried’s Prison Transfer and Do Kwon’s Extradition Dilemma

Sam Bankman-Fried, the founder of the collapsed FTX exchange sentenced to 25 years, is being moved to a new prison in California, according to The Wall Street Journal, citing sources. Federal authorities initiated the transfer of inmates from the Brooklyn prison early on May 22, a representative for SBF stated. The spokesperson “could not confirm” […]

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ForkLog 51 24.04.2024

SEC Seeks $5.3 Billion Penalty for Do Kwon and Terraform Labs

The U.S. Securities and Exchange Commission (SEC) filed a motion seeking $5.3 billion in compensation and fines from Terraform Labs (TFL) and its founder, Do Kwon. On April 5, a jury in the Southern District of New York found TFL and Kwon guilty of investor deception and securities fraud. The trial lasted nine days and […]

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ForkLog 12 06.04.2024

Do Kwon Found Guilty of Fraud in SEC Case

A jury in the Southern District of New York found Terraform Labs (TFL) and its co-founder Do Kwon guilty of deceiving investors and securities fraud. “We are pleased with today’s jury verdict, which holds TFL and Do Kwon accountable for orchestrating a massive cryptocurrency fraud. [They] misled investors about the stability and security of crypto-assets […]

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ForkLog 12 05.04.2024

Montenegro’s Supreme Court Overturns Do Kwon’s Extradition

Montenegro’s Supreme Court overturned the lower courts’ decision to extradite Terraform Labs (TFL) co-founder Do Kwon. In early March, the High Court of Podgorica approved the extradition of the entrepreneur to South Korean authorities. However, the prosecution objected, citing procedural violations. “In this specific case, the first-instance court could not make a decision in an […]

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ForkLog 15 23.03.2024

Montenegro to Release Do Kwon Amid Extradition Deliberations

The High Court of Podgorica has decided to release Do Kwon, co-founder of Terraform Labs (TFL), according to local publication Vijesti. Darko Vukcevic, the prison warden in Spuž, informed Bloomberg that Kwon will be released on March 23 following the completion of his sentence for attempting to cross the border with forged documents. Goran Radic, […]

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ForkLog 10 21.03.2024

Montenegro Confirms Extradition of Do Kwon to South Korea

Do Kwon, co-founder of Terraform Labs (TFL), is set to be extradited to South Korea. The final decision was made by the Montenegrin Court of Appeals, reports Radio Free Europe. In early March, the High Court of Podgorica approved the entrepreneur’s extradition to the Korean authorities. March 22, 2024 | 10:00Update: The Supreme State Prosecutor’s […]

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ForkLog 19 08.03.2024

Do Kwon to be Extradited to South Korea

Do Kwon, co-founder of Terraform Labs (TFL), is set to be extradited to South Korea. This decision was made by the High Court of Montenegro, reports Vijesti. On March 5, the country’s Court of Appeal overturned the approval for the TFL head’s extradition to the United States authorities. Previously, lawyers had succeeded in similar petitions […]

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ForkLog 7 06.03.2024

Do Kwon’s Extradition to the US Halted by Montenegro Court

The Montenegrin Court of Appeals has overturned the approval of Do Kwon’s extradition to the United States. This marks the third successful appeal by the Terraform Labs co-founder, reports The Block. Previously, Kwon had similar extradition requests to the US and South Korea dismissed on December 19 and February 8, respectively. The appellate court cited […]

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ForkLog 8 29.02.2024

SEC Challenges Terraform Labs’ $166 Million Payment to Law Firm

The SEC has approached the bankruptcy court to request that Terraform Labs be denied the use of the law firm Dentons as an advisor due to a “suspicious” payment. This was reported by The Block. According to the agency, Terraform Labs transferred a “staggering” $166 million into Dentons’ advance payment system. Of this total, $122 […]

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ForkLog 9 22.02.2024

Montenegro to Extradite Do Kwon to the United States

The High Court of Podgorica has decided to extradite Terraform Labs co-founder Do Kwon to the United States, according to Vijesti. The court rejected a similar request from South Korean authorities. The ruling is not legally binding, as Kwon’s lawyers have the right to appeal. “We have received the decision of the High Court of […]

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ForkLog 6 08.02.2024

Montenegro Delays Do Kwon’s Extradition to the US

The Court of Appeals in Montenegro has overturned a previously approved decision to extradite Do Kwon to South Korea or the United States, granting a renewed appeal by the co-founder of Terraform Labs’ lawyers. This was reported by The Block. In December, the court had already rejected the initial verdict, which was contested once more. […]

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ForkLog 6 05.02.2024

Former TFL CFO Extradited to South Korea

The authorities in Montenegro have extradited former Chief Financial Officer of Terraform Labs (TFL), Han Chang-Joon, to South Korea. According to the statement, Joon was handed over “for proceedings related to several criminal offenses involving fraud in financial services, investments, and capital markets.” The document specifies that such offenses in South Korea “carry a potential […]

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