Do Kwon is about to be extradited to the US following a last-ditch effort by a Montenegrin court: Report
Since his arrest in March 2023, Do Kwon, the founder of Terraform Labs in Montenegro, has reportedly been extradited to the United States to face fraud charges.
According to a February 21 report from the Montenegrin news outlet Pobjeda, the Podgorica High Court rejected South Korea's request to extradite Kwon to the United States. The decision follows an appeal by Kewon's legal team, which claims Montenegro's justice minister has final authority over the Terraform co-founder's extradition – a claim rejected by the High Court.
It is unclear when Kwon will travel to the US. After the fall of Terra in May 2022, his whereabouts were unknown until March 2023, when Montenegrin authorities arrested Kuo using a forged travel document. He was sentenced to four months in prison and has been facing extradition charges while in prison.
Related: Do Kwon's Terraform Labs Files for Chapter 11 Bankruptcy Protection
U.S. and South Korean officials have been fighting Apple's first bite after accusing Kwon of fraud related to his tenure at Terraform. The United States Attorney's Office indicted Terra's founder on eight criminal charges shortly after he was arrested in Montenegro.
The US Securities and Exchange Commission has a civil suit against Kwon and Tera, with a hearing set for March 25. Both parties have been accused of masterminding a “multi-billion dollar crypto asset securities fraud” in connection with the offering of TerraUSD (UST) and Terra. (Luna)
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