The civil fraud trial of Terraform Labs and its founder, Do Kwon, has begun with the Securities and Exchange Commission (SEC) accusing the defendants of weaving a misleading business facade. As reported by the New Jersey Law Journal, the SEC likened the actions of Terraform Labs and its founder to building a ‘house of cards’ due to the alleged lies and deception in their business operations.
Representing Terraform and Mr. Kwon are law firms Denton and Kaplan Hecker & Fink respectively. Both legal teams have staunchly denied the SEC’s allegations, assuring in their opening statements that their clients had not partaken in any form of dishonesty.
Details of the case are currently under the law journal’s paywall, limiting accessibility to further specifics about the ongoing trial. Interested parties and legal professionals are therefore advised to follow the link for updates when they become available.