Before extradition, Terraform Labs founder Do Kwon will first have to stand trial in Montenegro for traveling on a fake passport, according to his lawyer in the country. The fugitive crypto entrepreneur may also have to serve time in prison before he is extradited from the Balkan nation, its justice minister indicated.
Do Kwon to Stand Trial in Montenegro, May Serve Time Before Extradition
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Alleged South Korean Crypto Fraudster Do Kwon Stays in the Balkans for Now, Officials Say
Kwon Do-Hyung, the CEO of the company behind crashed stablecoin terrausd and cryptocurrency luna who is better known as Do Kwon, will face trial in Montenegro. He was arrested there on March 23 while trying to leave for Dubai using a false Costa Rican passport.
Terraform Labs co-founderβs trial for using forged personal documents βmust be completed firstβ before he can be extradited to other countries, his Montenegrin lawyer Vojislav ZeΔeviΔ told South Koreaβs Yonhap news agency on Tuesday.
Authorities in both South Korea and the United States are seeking Kwonβs extradition. However, the prosecutor investigating the case was quoted as saying on Monday that the process is likely to take some time as judicial authorities in Montenegro intend to indict him.
ZeΔeviΔ now added that he intends to appeal the court order extending Kwonβs pre-trial detention. The Korean was initially arrested for 72 hours but a local court extended the measure to 30 days, citing the flight risk and the need to verify his identity.
Kwonβs lawyer claims the said passport was legitimate but according to a Bloomberg report, a forged Belgian passport was also found in his luggage. Meanwhile, Montenegroβs Interior Minister Filip AdΕΎiΔ revealed that investigators also found three laptops and five mobile phones belonging to Kwon that carried a lot of βvery interestingβ information.
In another report, Bloomberg quoted Montenegroβs Justice Minister Marko KovaΔ who said that a judge will decide if Do Kwon will be extradited to the U.S. or South Korea. He also emphasized that Kwon may first have to serve time in the small European nation if convicted of traveling on fake documents.
βConsideration will be given to the gravity of crimes, the location of committed offenses, the sequence of requests, as well as the citizenshipβ of the suspects, KovaΔ elaborated on Wednesday. Kwon was arrested together with another man who has since been identified as Terraformβs Chief Financial Officer, Han Chang-joon.
To where do you think Montenegro will eventually extradite Do Kwon? Tell us in the comments section below.
