SEC Fights Against Jury Leniency in Do Kwon and Terraform Lab case

SEC Fights Against Jury Leniency in Do Kwon and Terraform Lab case

LawSEC

By Miles

03 Nov 2023 (8 months ago)

1 min read

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SEC fights jury leniency on Terraform, alleging Do Kwon's illegal acts.

The SEC disagrees with a jury about Terraform Labs and wants a quick judgment on its claims. They say no reasonable group could ignore the evidence against Do Kwon's role in the company’s illegal activities.

The SEC believes Kwon misled investors about Terra and its tokens, claiming they were falsely marketed as investments. Kwon argues his products aren't investments like the SEC says.

The SEC insists Kwon broke the law, selling unregistered tokens and committing fraud. Terra’s collapse, according to a co-founder's lawyer, was caused by poor management and external attacks, but Terraform blames the trading firm Citadel Securities.

Citadel denies involvement, calling the accusations baseless and pointing to misinformation spread online.

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