The Latest Developments in Do Kwon’s Legal Journey
Do Kwon’s journey through the legal system has taken a significant step forward with his extradition to the US from Montenegro on December 31. Upon his arrival, Kwon pleaded not guilty to nine federal fraud charges, including money laundering conspiracy and securities fraud, stemming from the $40 billion collapse of Terra/Luna in 2022.
An “initial conference” with Judge John P. Cronan is scheduled for January 8, where both the prosecution and defense will gather evidence and discuss the possibility of reaching a settlement.
As the legal process unfolds, parties involved are focused on avoiding wasteful pretrial activities and preparing for the discovery process and potential trial ahead.
The Discovery Process
The discovery process involves gathering and examining evidence submitted by opposing legal teams, a task that can extend over several months. Given the complexity of the Terra/Luna collapse and the severity of the charges against him, Kwon may face a lengthy legal battle with a potential maximum sentence of 130 years in prison.
Do Kwon’s Legal Battles in Montenegro
Prior to his extradition, Kwon’s legal team in Montenegro had submitted six appeals, alleging that his removal to the US violated European extradition laws. After over a year of legal proceedings, Kwon was finally extradited following a series of rulings that were met with challenges and reversals.
Prime Minister Milojko Spajić expressed hope that the extradition would put an end to any political manipulations surrounding the case, while former Prime Minister Dritan Abazović had previously accused Spajić of engaging in transactions involving Terra/Luna tokens with Kwon.
With the legal process now underway in the US, Do Kwon’s future remains uncertain as he navigates the complexities of the justice system in the wake of one of the largest financial collapses in recent memory.