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Terraform Labs and Founder Do Kwon Found Liable In US Civil Fraud Trial
Friday April 5, 2024. 10:40 PM , from Slashdot
Louis Pellegrino, an attorney for Terraform, told the jury on Friday the SEC's case relied on statements taken out of context and that Terraform and Kwon had been truthful about their products and how they worked, even when they failed. 'Terraform is still out there, trying to rebuild and make purchasers whole,' he said. The regulator is seeking civil financial penalties and orders barring Kwon and Terraform from the securities industry. Kwon, who was arrested in Montenegro in March 2023, did not attend the trial, which began March 25. Both the U.S. and South Korea, where Kwon is a citizen, have sought his extradition on criminal charges. Read more of this story at Slashdot.
https://yro.slashdot.org/story/24/04/05/209232/terraform-labs-and-founder-do-kwon-found-liable-in-us...
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