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Do Kwon will be tried in the United States, and Fred Bankman will attend the trial as a witness

In the latest legal battle to see justice in the United States pursue super-rich criminals in the cryptocurrency industry, Sam Bankman-Fried will return to court to determine whether he should continue to work with the current modeling company he is contracted to. And Montenegrin authorities agreed to extradite Do Kwon, the fraudulent founder of Terraform Labs.

Du Quan will be extradited to the US after months of consultations in Montenegro

Hikmet A high court in Podgorica, the capital of Montenegro, rejected South Korea's request to extradite Do Kwon to his home country to face criminal charges, according to a local media organization. The decision follows Do Kwon's February 8 victory in the Court of Appeal.

His extradition was canceled and returned to the Supreme Court. With the decision to deport Do Kwon Apparently, the United States will have about two months from Montenegro to extradite him to participate in the SEC case against Terraform Labs.

Terra's case was postponed until April 15 after Kwon's request and agreement with the SEC to postpone the proceedings. At the same time, the former cryptocurrency billionaire and his blockchain company are facing a number of charges, including defrauding clients and investors during the collapse of the Terra ecosystem.

In South Korea, Terra is also being investigated for criminal operations. A former company developer testified that Kwon knew his project presented a legal problem. The former head of the financial department of Terraform Labs, Han Chang Zhong, was also extradited. to South Korean authorities on February 5.

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Sam Bankman Fred faces trial over failed FTX exchange lawyer

Prosecutors brought the issue to the forefront, asking U.S. District Judge Lewis Kaplan to make sure Bankman-Fried understood the potential conflict of interest his lawyers Mark Mukasey and Tori Young might pose. They will also represent Alex Mashinsky, the former CEO of Celsius, in the upcoming lawsuit.

The prosecution highlighted the potential conflict, noting that Mashinsky attributed Celsius' bankruptcy in part to decisions made by Alameda Research, one of FTX's companies. Given this role, Alameda was a significant creditor at the time of Celsius' bankruptcy in 2022.

A photograph of Fred Bankman taken during his time in prison.

It also noted previous discussions about Bankman Fried's potential takeover of Celsius and replacing Mashinsky before its collapse. However, the plaintiffs believe that these conflicting issues are not insurmountable, which suggests the possibility of compromise.

Earlier this week he expressed Alex Mashinsky About your decision to a federal judge. Stating that he is willing to ignore any potential conflicts that may arise from being represented by Bankman-Fried's attorneys.

The court is also seeking to understand whether Bankman-Fried is willing to waive his Sixth Amendment rights to effective counsel under the circumstances. Moreover, in the United States he faces imprisonment for up to 115 years.

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