The lawsuit this decision is part of, it must be said, is quite mad. Over the July 4 holiday, it emerged that a judge in Louisiana had issued an injunction preventing the White House from speaking to social media companies in certain ways. To correct this mistake, the two cases are now separately treated. While my assessment of the RFK Jr suit stands, the other is the earlier and more substantial case, though equally political or disingenuous. I wrote this article based on one, but the injunction was issued in the other (where a separate injunction was being considered). In fact it has been proposed that they be consolidated. Update: Bizarrely, there are actually two cases before this same judge, both advancing extremely similar legal arguments, precedents, and evidence. Kwon is facing charges in both countries, as well as in Singapore.Update 2: 10 days later, the 5th Circuit Court of Appeals has paused the injunction pending oral arguments in that jurisdiction. Meanwhile, Kwon is waiting for the decision of the Montenegrin court on his extradition.īoth the US and South Korea have requested his extradition. The entrepreneur is the grandson of Shin Jik-soo, the former Justice Minister of South Korea while his uncle Hong Seok-hyun is the chairman of media giant JoongAng Holdings. Shin's ongoing legal battle with the prosecutors is expected to be highly publicized considering his family ties. In April, South Korean prosecutors indicted Shin and nine others on various charges, which include violations of the country's Capital Markets Law.Įarlier that month, South Korean prosecutors seized Shin's house in Seoul, which was worth 100 billion won or approximately $76 million. The bulk of Shin's defense is founded on the fact that he had severed his ties with the controversial blockchain firm Terraform Labs in 2019 and has no knowledge of the events leading to its historic implosion which wiped out approximately $40 billion in investments. Shin has a powerhouse legal team consisting of 30 lawyers who used to be judges and prosecutors as well as lawyers with vast knowledge and experience in digital assets and capital markets law cases. Shin's first trial was originally set on May 16 but it was postponed because of the controversy surrounding the fairness of the judge assigned to the case. "We will check the opinions of the lawyers and reopen the trial preparation date to decide the opportunity for defense and the order of interrogation," the judge said based on a report from local media. The judge granted the request of Shin's team and set the next trial on August 28, which disappointed prosecutors, who had been meeting continuous delays. Shin, who is the former CEO of the financial service company Chai Corporation, said that he did not go to court Monday since it is just a preliminary hearing and added that he has no further comment.Īt the court, his legal team requested Judge Jang Seong-hoon to give them more time to prepare for his criminal defense. While Do Kwon is currently locked up in a jail in Montenegro for illegal possession of fake travel documents, the Seoul Southern District Court on Monday held the first preliminary hearing of his colleague Daniel Shin, one of the founders of the blockchain firm Terraform Labs (TFL) and seven other former Terra employees, but the TFL co-founder did not personally attend the hearing.
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