NewsletterJust-In: Terra Do Kwon Hires Top Law Firm For His Defense In US Lawsuit
Terra co-founder Do Kwon has reportedly hired world’s largest law firm Dentons to help him deal with prosecution and investigation by US federal prosecutors.
It’s not the first time Do Kwon is represented by Dentons. He hired lawyers from Dentons many times for his legal defense to challenge subpoenas and lawsuits.
Do Kwon Brings Dentons Law Firm to Defend Against US Lawsuit
Terra co-founder Do Kwon currently facing a passport forgery case in Montenegro had his bail revoked by the court after prosecutors challenged the bail for house arrest due to flight risk and bail amount.
Amid rising talks on his extradition, Do Kwon has hired Dentons law firm to represent him in lawsuits and investigations in the US, reported Digital Asset on May 29. Dentons ranks sixth in the 2023 ranking of global law firms and the world’s largest law firm in terms of lawyers.
The US Securities and Exchange Commission sued Do Kwon and Terraform Labs in February on accusations of fraud and selling unregistered securities. In March, the U.S. District Attorney’s Office for the Southern District of New York indicted Do Kwon on eight charges, including securities fraud, wire fraud, commodities fraud, and conspiracy.
Dentons represented Do Kwon earlier to challenge the US SEC subpoena in its investigation of Mirror Protocol in 2021 and a class action lawsuit in the Singapore High Court in 2022. The law firm also represents Terra in other lawsuits.
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Legal Actions Against Terra Executives Rising
South Korea prepares for Do Kwon’s extradition as prosecutors claim the country has more evidence and cases against Do Kwon. Terraform Labs and Do Kwon have withdrawn crypto worth millions in May.
Meanwhile, Terra co-founder Daniel Shin will appear at the Seoul Southern District Court for his first trial soon. Daniel Shin has hired a team of 30 lawyers for his defense, including a prosecutor who previously investigated the Terra-LUNA crises.
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