Do Kwon Approved for Extradition to South Korea or the United States – Coinpedia Fintech News

• Do Kwon, the founder of Terraform Labs, has been approved for extradition to either South Korea or the United States by a court in Montenegro following his arrest and four-month prison sentence for document forgery.
• Kwon is facing multiple charges of fraud in the US and ongoing investigations in South Korea and the US related to the collapse of TerraUSD last year. Co-founder Daniel Shin has also been indicted in South Korea for capital markets law violations, with authorities freezing $185 million in assets.
• Montenegrin authorities have announced that extradition will be decided by the country’s Justice Minister following a four-month prison sentence for document forgery.

Do Kwon has been approved for extradition to either South Korea or the United States by a court in Montenegro. This decision follows Kwon’s arrest in March for possessing false documents and his subsequent four-month prison sentence in Montenegro for document forgery. The final decision on Kwon’s extradition will be made by the Montenegrin Justice Minister after he serves his prison sentence.

Do Kwon Hit with Multiple Charges

Kwon is currently facing multiple charges of fraud in the US, as well as ongoing investigations in South Korea and the US related to the collapse of TerraUSD last year. Terraform Labs co-founder Daniel Shin has also been indicted in South Korea for capital markets law violations, with prosecutors freezing $185 million in assets. Shin denied any involvement in the company’s collapse, claiming he left two years prior.

Recently, the Montenegrin High Court affirmed the four-month prison sentence of Do Kwon, co-founder of Terraform Labs, for falsifying documents. Han Chang-Joon, Kwon’s associate, also received the same sentence. The court rejected their appeal and deemed the punishment fitting.

Kwon may face extradition to South Korea or the U.S. After serving his sentence in Montenegro, In April, Daniel Shin, another Terraform Labs co-founder, was indicted in South Korea for violating capital markets laws, and authorities froze $185 million in assets. Shin denied any involvement in the company’s downfall, stating that he left two years prior.

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