Terra co-founder Do Kwon has reportedly hired the largest law firm in the world, Dentons, to assist him in the prosecution and investigation by US federal prosecutors.
It is not the first time that Do Kwon is represented by Dentons. He often hired Dentons lawyers for his legal defense to fight subpoenas and lawsuits.
Do Kwon enlists Dentons law firm to defend against US lawsuit
Terra co-founder Do Kwon, who is currently facing a passport counterfeiting case in Montenegro, was withdrawn by the court after prosecutors challenged the house arrest bail due to the flight risk and the amount of the bail.
Amid rising talks about his extradition, Do Kwon has hired the law firm Dentons to represent him in lawsuits and investigations across the US, Digital Asset reported May 29. terms of lawyers.
The U.S. Securities and Exchange Commission indicted Do Kwon and Terraform Labs in February over allegations of fraud and the sale of unregistered securities. In March, the U.S. District Attorney for the Southern District of New York indicted Do Kwon on eight counts, including securities fraud, banking fraud, commodities fraud and conspiracy.
Dentons previously represented Do Kwon to challenge the US SEC’s subpoena in its 2021 Mirror Protocol investigation and a 2022 Singapore Supreme Court class action lawsuit. The law firm also represents Terra in other lawsuits.
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Legal action against Terra Executives Rising
South Korea prepares to extradite Do Kwon as prosecutors claim the country has more evidence and cases against Do Kwon. Terraform Labs and Do Kwon withdrew crypto worth millions in May.
Meanwhile, Terra co-founder Daniel Shin will soon appear in court for the Southern District of Seoul for his first trial. Daniel Shin has hired a team of 30 lawyers for his defense, including a prosecutor who previously investigated the Terra-LUNA crises.
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Varinder has 10 years of experience in the Fintech sector, with more than 5 years dedicated to blockchain, crypto and Web3 developments. A technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles and newspapers. With CoinGape Media, Varinder believes in the enormous potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
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