Do Kwon to face extradition charges from both US and South Korea

March 24, 2023 By Prelo Con

(Image Credit Google)

Image Source: Bloomberg Do Kwon, the founder of Terraform Labs, which controlled the TerraUSD stablecoin and its sister token LUNA, was apprehended in Montenegro Thursday morning after months of hiding while attempting to board a flight to escape Dubai with forged documents. On Thursday night, a few hours after Kwon was detained at the airport in Podgorica, Montenegro's capital, U.S. authorities accused him with eight felony counts, including securities fraud and conspiracy, for his alleged participation in the crypto market crash that wiped away approximately $40 billion. According to CNN, Interpol verified Thursday that the man captured in Montenegro is crypto fugitive Do Kwon, or Do-Hyung Kwon, who is sought in South Korea and the United States on fraud allegations. We don't know where Kwon will be transferred because he is now facing criminal accusations in the United States by the Justice Department and the Securities and Exchange Commission (SEC), as well as in his own nation of South Korea. Yet, the United States and South Korea appear to be seeking Kwon's extradition. [caption id="attachment_127262" align="aligncenter" width="1200"]

Image Source: Yahoo Finance[/caption] Federal prosecutors in the United States have allegedly stated that they will pursue Kwon's extradition to New York, while their Korean equivalent is also demanding Kwon's extradition. South Korean prosecutors' representative informed TechCrunch that they are in talks with "relevant parties" about extraditing Kwon as soon as feasible. Nevertheless, the spokeswoman did not say which nation Kwon would be transferred from Montenegro, how long it would take, or the names of the persons involved. Kwon is facing a slew of criminal charges. After the Terra/LUNA crash in May 2022, a South Korean court issued an arrest order for him, and Interpol issued a red alert, a summons to law enforcement throughout the world, in September to apprehend Kwon, who stated in an August interview with Coinage that he was not charged with anything.

By Prelo Con

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Do Kwon to face extradition charges from both US and South Korea

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