Terra Founder’s Legal Battle, Twist, Delay And Alleged Bribery: Details
The Court Saga Aiming to extradite the founder of Terra Classic has been an emblem constituting detrimental tendencies to the Terra Classic ecosystem, the coin on this note has been performing below potential.
In a digital space where everyone is careful about which asset to venture into to accumulate profit, it is inherent that investors investigate thoroughly, making sure that an asset is void of any irregularities that could hinder investment flow: this could be the reason why Terra Classic has not been consistent in the conclave of bear trending coin.
Recently, an expert in the space FatManTerra who has been a regular in the Terra community made a post concerning the Extradtion Saga of the Do Kwon.
Read Also: Terra Classic Community Pushes for Revival with Network Upgrade and Token Burn
The Court Saga: Is Bribery Involved?
Do Kwon, who was caught in Montenegro, has been where he was captured for quite a while and is yet to be extradited. Also, they have been unusual occasions for a long time. for instance, an extradited decision is made, however, after all preparations for him to be extradited, a higher court clamp down on the decision. Then another decision was made, and it was declared that he would be extradited to the USA. Nonetheless, after some time, the new extradition decision was dented as it was overturned on the grounds of procedural anomalies.
While there was discussion of whether Do Kwon would come to the US court the month following the endorsement for his extradition to the US, the decision was again dented. A couple of days after that, Montenegrin authorities declared that Do Kwon would be moved to South Korea, a country with which they don’t have an extradition treaty.
Read Also: Terraform Labs Founder Do Kwon Fights Extradition, Delays US Trial
FatManTerra Seems to see the delays, back and forth saga as an influencing factor playing a role.
Bribery does wonders https://t.co/aIIbZGaqm0
— FatMan (@FatManTerra) March 9, 2024
The Court And Terra Founder
Do Kwon bear responsibility in regard to the breakdown of the $40 billion Terra Classic’s ecosystem. Some obvious questions have to be asked in court, for example, how the Terra Classic’s treasury was spent, how billions of dollars in Bitcoin were consumed, and why massive UST was given to given to market makers which triggered the market volatility.
Read Also: Terra Classic Surge By 38% Captures Community Attention: Here Is Why
After Do Kwon’s past failed algo-stablecoin adventure (which he did with animosity, so individuals didn’t mention it while Terra was alive), UST was launched, and Kwon’s second algo-stablecoin adventure was a failure. Today, the fortune of Do Kwon is massively huge and in tens of millions of dollars in legal fees.
According to a recent statement by FatMan:
“CJ Han, one of the accounting geniuses behind the Terra fraud and a close partner of Do Kwon has been handed over to the South Korean authorities. Do Kwon will face justice in the US, but let’s not forget Jump, Kanav Kariya, Chris Amani, and all the complicit Terra fraudsters.”
CJ Han, one of the accounting masterminds behind the Terra scam & Do Kwon's close associate, has been handed to South Korean authorities.
Do Kwon will face justice in the US, but let's not forget about Jump, Kanav Kariya, Chris Amani, and all the other complicit Terra scammers. pic.twitter.com/zw6Z9aJzHV
— FatMan (@FatManTerra) February 6, 2024
This is simply to put that there are so many legal showdowns yet to be unveiled and that the battle has not really started hence many more developments on the way.
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Meet Daniel Abang: Crypto guru, content creator, and analyst. With a deep understanding of blockchain, he simplifies complex concepts, guiding audiences through the ever-changing crypto landscape. Trusted for his insightful analysis, Daniel is the go-to source for staying informed and empowered in the world of cryptocurrency.
