Hire Dentons attorney for lawsuit against SEC in 2021
It is reported that Kwon Do-hyung, CEO of Terraform Labs, a key figure in the controversial ‘Terra Luna incident’, hired Dentons, one of the world’s largest law firms, to respond to prosecution and investigation by the US federal prosecutors.
According to the foreign press on the 1st, overseas coin media quoted a report by Digital Asset, a domestic block chain and cryptocurrency specialized media, and reported that this is not the first time CEO Kwon has hired Dentons.
Dentons is known to be one of the world’s largest law firms, ranked in the top 10 in terms of the number of lawyers affiliated and various rankings in the industry.
Representative Kwon is said to have appointed Dentons lawyers when filing a preemptive lawsuit in response to a closed investigation by the US Securities and Exchange Commission (SEC) in 2021.
In March of this year, the Southern District Attorney’s Office (SDNY) in New York indicted Kwon on eight charges, including investor deception, financial fraud using internet banking, market manipulation, and securities fraud. Prior to this, in February of this year, the SEC filed a lawsuit against CEO Kwon and Terraform Labs in Manhattan Federal Court for fraud and other charges.
Meanwhile, CEO Kwon and former CEO of Chai Corporation Chang-joon Han were arrested and detained by the Montenegrin police at Fordrigoza Airport in Montenegro in March. The two were caught by the police while trying to leave for Dubai, United Arab Emirates, using fake Costa Rican passports at the time. In November of last year, when he refused to return his passport, his passport was invalidated and he became an illegal resident.
Recently, the two were granted bail by the District Court of Podgorica, allowing them to stand trial under house arrest upon payment of 400,000 euros (approximately 580 million won). However, the Podgorica High Court reversed it, and he was eventually tried in detention.
Source: Donga