Montenegro Approves Extradition of Do Kwon to United States, Favors US Prosecution Over South Korean Request
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Montenegro Denies South Korea’s Extradition Request for Do Kwon, Favors US Prosecution
In a shocking turn of events, Montenegro has approved the extradition of Terraform Labs co-founder Do Kwon to the United States. The decision was made by Justice Minister Bojan Bozovic, who stated that all criteria pointed towards favoring the US request.
According to reports, South Korea had also submitted an extradition request for Kwon, but it was denied in favor of the US bid. This move comes as a significant blow to Kwon’s legal team and supporters, who had been advocating for his return to South Korea.
Kwon has been under investigation by US authorities over allegations that he misled investors and hid substantial assets related to the collapse of TerraUSD and Luna, which led to a $40 billion loss in the cryptocurrency market. The incident triggered widespread bankruptcies across the industry.
The extradition decision stems from Kwon’s arrest at Podgorica Airport in March 2023 for document forgery. He served a four-month prison sentence before being transferred to Montenegro’s Shelter for Foreigners, where he awaits extradition arrangements.
The news raises concerns over Kwon’s potential legal troubles and financial implications in the US. Industry experts have long suspected that Kwon would face severe penalties if extradited and prosecuted by American authorities.
Source: cryptobriefing.com
