🔥🔥Terraform Labs Fights Back🔥🔥
Attorneys Challenge SEC's 'House of Cards' Allegations in High-Stakes Crypto Fraud Trial
In the opening statements of the civil trial against Terraform Labs, the SEC has made strong allegations against the crypto company and its co-founder, Do Kwon. According to the SEC's attorney, Terra was built on a "house of cards" and amounted to a fraudulent scheme, resulting in significant losses for investors.
The SEC's case alleges that Terraform Labs and Do Kwon orchestrated a multi-billion dollar fraud, with the SEC stating that "Terra was a fraud, a house of cards, and when it collapsed, investors lost nearly everything." Terraform Labs' attorneys and Do Kwon's legal team have denied these claims, insisting that their clients did not lie.
The civil trial, taking place in the U.S. District Court for the Southern District of New York, comes over a year after the SEC filed charges against Terraform Labs and Do Kwon.
