JUST

United

Terra

Read

<p class="is-style-lead">The chief prosecutor in South Korea, leading the case against <a href="https://crypto.news/what-happened-to-terra-luna-journey-from-crypto-kings-to-fallen-stars/">Terraform</a> Labs CEO Do Kwon, indicated that he might face multiple terms in his home country and the United States.</p>



<p>Kwon was recently granted a bail petition by a judge in Montenegro, allowing him to remain free under house arrest while awaiting trial. As the extradition decision is pending, Kwon and Terraform Labs&#8217; CFO Han Chang-Joon is legally obligated to reside at Chang-Joon&#8217;s designated residence in Montenegro.</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">💥 JUST IN:  <a href="https://twitter.com/hashtag/DoKwon?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#DoKwon</a> has been released on bail once again after Montenegro 🇲🇪 court dismisses prosecution appeal <a href="https://t.co/zOlpLqU17S" target="_blank">pic.twitter.com/zOlpLqU17S</a></p>&mdash; Crypto Rand (@crypto_rand) <a href="https://twitter.com/crypto_rand/status/1665652402777649153?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 5, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<p>Dan Sunghan, <a href="https://www.bloomberg.com/news/articles/2023-06-08/fallen-crypto-mogul-kwon-could-face-jail-in-south-korea-and-us-prosecutor-says#xj4y7vzkg" target="_blank" rel="noreferrer noopener">speaking to Bloomberg</a>, emphasized that extraditing Kwon to South Korea would be more favorable &#8220;in terms of achieving justice and recovering damages for the victims.&#8221;</p>



<p>According to Sunghan, most of the initial investigation into the collapse of the Terra ecosystem was conducted in South Korea. He noted that local law enforcement, unlike their American counterparts, had easier access to more evidence.</p>



<p>Sunghan revealed that South Korean authorities had already indicted several of Kwon&#8217;s accomplices.</p>



<div class="cn-block-related-link">

    <svg class="cn-block-related-link__icon icon" aria-hidden="true">
        <use xlink:href="#icon-bookmark"></use>
    </svg>

    
        <span class="cn-block-related-link__prefix">
            You might also like:
        </span>

    
    
        <a href="https://crypto.news/do-kwon-allegedly-backed-a-political-party-in-montenegro/" class="cn-block-related-link__link">
            Do Kwon allegedly backed a political party in Montenegro        </a>

    
</div>


<p>Regarding the possibility of Kwon being tried in both the United States and South Korea, Sunghan stated that such a scenario is an option. He explained how an individual convicted of crimes in multiple countries could face multiple foreign sentences if not prosecuted for all offenses.</p>



<p>As a result, Sunghan added that the businessman might be extradited to the US for trial after serving his sentence in South Korea. This alone could extend beyond 40 years if South Korean authorities do not account for all charges against Kwon in the US.</p>



<p>According to Sunghan, this case represents South Korean history&#8217;s most notable instance of financial fraud or financial securities fraud.</p>



<h2 class="wp-block-heading" id="binance-under-scrutiny-from-south-korean-watchdogs">Binance under scrutiny from South Korean watchdogs</h2>



<p>In the meantime, South Korean authorities have <a href="https://m.newspim.com/news/view/20230607000608" target="_blank" rel="noreferrer noopener">commenced investigating</a> Binance&#8217;s trading activities in the country following the exchange&#8217;s legal disputes with the SEC.</p>



<p>The Financial Service Committee (FSC), South Korea&#8217;s financial regulator, is reportedly examining <a href="https://crypto.news/learn/beginners-guide-trading-binance/">Binance&#8217;s</a> acquisition of Gopax, a local cryptocurrency trading platform.</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe title="Binance Is In Deep Sh*t" width="1020" height="574" src="https://www.youtube.com/embed/SmHBATS8Vlc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>



<p>The FSC raised concerns about Binance&#8217;s alleged violations of securities laws and the SEC&#8217;s attempts to freeze Binance&#8217;s assets as part of their assessment of the Gopax transaction. With a significant number of US assets involved, the approval of the acquisition request is now in doubt.</p>



<div class="cn-block-related-link">

    <svg class="cn-block-related-link__icon icon" aria-hidden="true">
        <use xlink:href="#icon-bookmark"></use>
    </svg>

    
        <span class="cn-block-related-link__prefix">
            Read more:
        </span>

    
    
        <a href="https://crypto.news/live/do-kwons-trial-in-montenegro/" class="cn-block-related-link__link">
            Do Kwon’s trial in Montenegro        </a>

    
</div>

Do Kwon to face multiple jail terms in South Korea and US

Obsah

crypto.news

Ďalšie články zverejnené 8. 6. 2023

Mizar review: impact on automated trading

Bitcoin (BTC) Price Chart Analysis

Tether Gold Now Accepted as Payment on Uquid

EOS Network Mainnet Turns Five, Here's What Was Achieved Last Year

High-quality Web3.0 RPG ‘Stella Fantasy’ Won The Best RPG Game by 3XP Poll

Circle Boosts Confidence with Strategic Addition Amid Crypto Skepticism: Ex-CFTC Chair Joins Team

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!