“SEC Seeks to Prohibit Do Kwon and Terraform from Entering the Securities Industry”

Former Securities and Exchange Commission (SEC) lawyer Laura Meehan told the jury in Manhattan on Friday that Terraform Labs and its founder Do Kwon had lied repeatedly about the success of their cryptocurrency platform, stating that their success story was “built on lies”. Additionally, the SEC is seeking civil monetary penalties and a ban on Kwon and Terraform from the securities industry. It is reported that the lawyers for Terraform Labs and Do Kwon will make their final statements to the jury regarding the fraud charges brought against them by the SEC. Do Kwon was arrested in Montenegro in March 2023 and did not attend the trial that began on March 25. Both the United States and South Korea have sought extradition of Kwon on criminal charges.