| Terraform Labs Crypto Trial
Day 4 Has Whistleblower Grilled on
Monetary Motive
by
Matthew Russell Lee, Patreon Book
Substack
SDNY
COURTHOUSE,
March 28 – The SEC's trial
against Terraform Labs
began on March 25. Inner City
Press was there, thread. On
November 17, 2023 US District
Court for the Southern
District of New York Judge Jed
S. Rakoff held a hearing on
potential trial experts. Inner
City Press live tweeted that
too, thread.
From March
27, Day 3, thread
From March
28, Day 4, thread
OK - back to crypto trial of SEC v
Terraform / Do Kwon, Day 4 - the whistleblower
still on the stand, cross examination
Defense: You said you know Chai's products
inside and out, right?
Witness: Yes. Defense: But you had no personal
knowledge, isn't that fair? W: None of the
Chai products I knew used the Terra
blockchain. Defense: Were they offered
discounts? W: From investor funds
Defense: You're in this case for the
money, right? SEC lawyer: Objection! Judge
Rakoff: Sustained.
Defense: You say you became aware of a fraud
at Chai, right? Witness: Yes. Now that I look
back, they are making millions, of course they
wanted it secret
Defense: Move to strike, not responsive
Judge: Granted.
Defense: When you filed your first SEC
whistleblower complaint, you had already known
about it. You were being let go?
Witness: For raising concerns. I would have
made more to stay silent. Defense: No further
questions.
Judge Rakoff: We'll take a break.
...after showing of charts and playing of
audio, ends with Judge Rakoff asking for
Defense position on an adverse inference
instruction, if witness takes the 5th.
Defense: One moment? Judge Rakoff: I
have to leave, for the usual reasons
More on Substack
here
The case is
Securities and Exchange
Commission v. Terraform Labs
Pte Ltd. et al., 23-cv-1346
(Rakoff)
***
Your
support means a lot. As little as $5 a month
helps keep us going and grants you access to
exclusive bonus material on our Patreon
page. Click
here to become a patron.
Feedback:
Editorial [at] innercitypress.com
SDNY Press Room 480, front cubicle
500 Pearl Street, NY NY 10007 USA
Mail: Box 20047, Dag
Hammarskjold Station NY NY 10017
Reporter's mobile (and weekends):
718-716-3540
Other, earlier Inner City Press are
listed here,
and some are available in the ProQuest
service, and now on Lexis-Nexis.
Copyright 2006-2023 Inner City
Press, Inc. To request reprint or other
permission, e-contact Editorial [at]
innercitypress.com
|
,
