According to Cointelegraph: Terraform Labs co-founder, Do Kwon, is disputing a request by the U.S. Securities and Exchange Commission (SEC) to interrogate him in the U.S. about the collapse of the Terra Money ecosystem. The denial was submitted by his lawyers on September 27 to a federal court.
The legal team argued that SEC's request for questioning in the U.S. before October 13 was "impossible", as Kwon is currently detained in Montenegro, with no schedule for release or extradition. They further asserted that giving written testimony in response to SEC's inquiries would conflict with Kwon's right to due process under U.S. law.
Kwon's lawyers have clarified that Kwon does not directly oppose a deposition but insists it should take place in Montenegro, where he is currently on bail. A Montenegrin court has reportedly hinted at possibly holding a hearing on either October 13 or October 26, where they would question Kwon on SEC's behalf.
The lawsuit against Terraform Labs and Kwon brought by the SEC alleges a "multi-billion dollar crypto asset securities fraud". Kwon and Terraform Labs’ CFO, Han Chang-Joon, were arrested in Montenegro in March 2023 after allegedly using false travel documents to depart the country.
