Do Kwon, Jailed Crypto CEO, Rejects SEC Fraud Allegations

Crypto entrepreneur Do Kwon's lawyers ask judge to dismiss SEC lawsuit alleging fraud in connection with collapse of TerraUSD and Luna cryptocurrencies, arguing SEC exceeded authority and failed to prove defrauding of U.S. investors. Kwon, jailed in Montenegro, faces similar charges from U.S. prosec

April 22, 2023 . 7:21 PM

1 min read

Do Kwon's lawyers ask judge to dismiss SEC lawsuit accusing him of fraud in connection with collapse of TerraUSD and Luna cryptocurrencies.
Lawyers argue SEC exceeded its authority and failed to prove defrauding of U.S. investors.
Kwon, jailed in Montenegro, faces similar charges from U.S. prosecutors and a warrant for arrest from South Korea.
Lawyers dispute SEC's jurisdiction and allegation that TerraUSD and Luna were securities, and deny Mr. Kwon lied about connection with Chai.
Lawyers also dispute SEC's characterization of UST's stability and the agency's attribution of the coin's recovery to a single unidentified firm.