SEC Seeks Summary Judgment Against Do Kwon and Terraform in Court

The Securities and Exchange Commission is seeking summary judgment from a federal court to save everyone the hassle of a trial. ‌They claim​ that ‍there ​is⁣ no real dispute ‌of material fact in their case against⁣ Do Kwon and‍ Terraform Labs.

The SEC filing states: ‌“There is no doubt that buyers‌ have invested money, whether⁢ through fiat currencies ⁢or crypto assets.” It further reiterates the regulator’s assertion⁤ that Kwon, Terraform, and other ⁣companies had sold ⁣securities.

Kwon is still in Montenegro, where he is⁤ serving a sentence for forgery. He was caught​ at an‌ airport with fake passports.

Terraform ‌co-founder Daniel Shin recently blamed former‍ Kwon’s mismanagement for the ‍failure of Terraform Labs in court in South ‍Korea. He claimed that ⁢he had divested himself of the company’s activities and the company itself two years⁢ before the collapse.

Edited ‍by

Omkar ‍Godbole