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    <p>The Securities and Exchange Commission (SEC) has asked a federal judge for a summary judgement in its case against <a rel="noopener noreferrer nofollow" title="Terraform Labs" href="https://thebittimes.com/tag/terraform-labs.html">Terraform Labs</a> founder <a rel="noopener noreferrer nofollow" title="Do Kwon" href="https://thebittimes.com/tag/do-kwon.html">Do Kwon</a>, arguing that his alleged <a rel="noopener noreferrer nofollow" title="fraud" href="https://thebittimes.com/tag/fraud.html">fraud</a> and sale of securities is “clear, undisputed, and overwhelming.”</p>
    <p>Granting summary judgement means that the case forgoes a <a rel="noopener noreferrer nofollow" title="trial" href="https://thebittimes.com/tag/trial.html">trial</a> by jury. A few days ago, Kwon’s lawyers requested the same motion — but asked the judge to take their side instead. The defense argued that the SEC hasn’t adequately proved that <a rel="noopener noreferrer nofollow" title="Terraform Labs" href="https://thebittimes.com/tag/terraform-labs.html">Terraform Labs</a> was selling securities.</p>
    <p>As readers recall, the firm’s ‘stablecoin’ TerraUSD (UST) spectacularly depegged last year. Its native token LUNA crashed soon after, causing a domino effect on the crypto market that it has yet to recover from.</p>
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       Do Kwon says SEC can question him — as long as it happens in Montenegro
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    <p><em>Read more: Swiss police freeze millions of <a rel="noopener noreferrer nofollow" title="Do Kwon" href="https://thebittimes.com/tag/do-kwon.html">Do Kwon</a>, TFL assets at request of SEC</em></p>
    <p>In the SEC’s motion filed on Thursday, Kwon and his company are accused of orchestrating a fraudulent scheme that “ultimately led to $45 billion in market loss, including devastating losses for US investors.” Lawyers wrote that Kwon offered and sold “an array of crypto asset securities” and knowingly deceived investors about the stability of these securities and TerraUSD.</p>
    <p>Kwon himself is still in Montenegro, serving a sentence for document forgery while awaiting extradition.</p>
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;Instagram,&nbsp;Bluesky, and&nbsp;Google News, or subscribe to our&nbsp;YouTube&nbsp;channel.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/sec-says-do-kwon-s-fraud-so-obvious-that-no-trial-is-needed-tbt68993.html">https://thebittimes.com/sec-says-do-kwon-s-fraud-so-obvious-that-no-trial-is-needed-tbt68993.html</a></p>

SEC says Do Kwon's fraud so obvious that no trial is needed

TheBitTimes

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