United

Wednesday

Terra

The U.S. and South Korea are seeking the extradition of international crypto fugitive Do Kwon. Kwon, along with another suspect, was arrested last week in Montenegro. 
The Montenegrin Justice minister Marko Kovac said on Wednesday that the United States and South Korea had requested the extradition of Do Kwon. Kwon is a South Korean national who stands accused on charges of multibillion-dollar fraud related to the collapse of the Terra ecosystem in May 2022. &nbsp;
The Terra co-founder was arrested in the Podgorica region of Montenegro last week. Minister Kovac said during a news conference that South Korea and the U.S. have officially requested Kwon and another suspect&rsquo;s extradition.
Kovac added the two suspects were charged in Montenegro with forging documents after they attempted to board a flight to Dubai. Montenegrin authorities charged Kwon and the second suspect &ndash; identified as Hon Chang Joon, with forging official documents. Reuters reports Kwon and Joon were found in possession of doctored Costa Rican passports, a second set of Belgian passports, laptops, and other devices.
The Multiple Charges Against Do Kwon
South Korean authorities charged Kwon in September for violating its Capital Markets Acts and issued a warrant for his arrest. Following investigations by numerous law enforcement agencies and having charges filed against him, the International Criminal Police Organisation, or Interpol, issued a red notice for Kwon.
U.S. federal prosecutors indicted Kwon with two counts each of securities fraud, wire fraud, commodities fraud, and conspiracy hours after his arrest.
Who Will Get Custody of Kwon?
It is unclear who will get custody of Kwon, given that he faces criminal charges in several jurisdictions. Kovac explained that extradition proceedings would only commence after local courts have dealt with the charges against Kwon and Joon for their use of falsified documents. If Kwon and Joon are sentenced for the charges in Montenegro, they would have to serve this out before being extradited.
Since more than one country has requested extradition for Kwon, Kovac said the decision ultimately lies with the courts. He explained:

In the case when we receive several extradition requests, determining to which state they will be extradited is based on several factors like the severity of the committed criminal offense, the location and the time when the criminal offense has been committed, the order in which we have received the request for extradition and several other factors.

A local court in Podgorica placed Kwon and Joon in a 30-day pre-trial detention.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

U.S. and South Korea Seek Extradition of Do Kwon

Crypto Daily™

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