Court approves extradition of Terra founder Do Kwon

Do Kwon extradition

Court in Podgorica has granted approval for the extradition of Terra founder Do Kwon to either South Korea or the United States, as detailed in the latest update on the judiciary’s official website. Kwon, apprehended at Podgorica‘s airport in March with forged documents, will await the final extradition decision from the Montenegrin Justice Minister. The approval follows Kwon’s four-month prison sentence in Montenegro for document forgery.

Fraud charges

In the wake of his arrest in Montenegro, Kwon faces numerous fraud charges filed by U.S. federal prosecutors, alongside existing civil charges in the U.S. and an ongoing investigation in South Korea linked to the terraUSD collapse last year. The Montenegro High Court recently upheld the four-month prison sentence for Kwon and his associate Han Chang-Joon for document falsification, rejecting their appeal and deeming the sentence appropriate. Kwon now faces potential extradition to South Korea or the U.S. after completing his sentence in Montenegro, as reported by CoinDesk.

Further complicating the legal landscape, Daniel Shin, co-founder of Terraform Labs, was indicted in South Korea in April for violations of capital markets law, resulting in the freezing of $185 million in assets by prosecutors.

Shin, distancing himself from the company’s collapse, asserted his departure from Terraform Labs two years prior.