A US judge ruled in favor of the Securities and Exchange Commission to seek records in Singapore related to Terraform Labs and founder Do Kwon.
A US judge denied Do Kwon and Terraform’s application for an order forcing the Securities and Exchange Commission (SEC) to withdraw its request for documents from the Monetary of Singapore, according to a «Bloomberg» report citing court records.
Terraform was based in Singapore but it is not clear what records the SEC is seeking from the city-state’s regulator.
In February, SEC sued Kwon and Terraform for allegedly offering and selling unregistered securities and carrying out a scheme that resulted in the loss of $40 billion in market value. Kwon’s whereabouts were unknown for several months until he was arrested in Montenegro in March.
