Montenegro court says Do Kwon should be extradited to US: WSJ

'테라' 권도형, 한국 아닌 미국으로 송환 도피 22개월만
According to a report by the Wall Street Journal, former crypto billionaire Do Kwon is set for U.S. extradition following a Montenegro court ruling.
That means he will stand trial on fraud charges there, not his home country of South Korea.
Lee Seung-jae reports.
22 months since first going on the run, and 11 months on from his arrest a Montenegro court ruled that crypto entrepreneur and Terraforms Labs co-founder Do Kwon should be extradited to the United States.
According to a report by the Wall Street Journal on Wednesday, the Podgorica High Court ruled that Kwon is to be extradited to the U.S., where he has been indicted on charges of crimes committed in the field of financial operations.
In 2023, Kwon and Terraform were charged by the U.S. Securities and Exchange Commission over a multibillion-dollar fraud.
The report added that the court rejected South Korea's request for extradition.
Kwon's lawyer argued that his client should be extradited to his home country, rather than the U.S., however the court ruled otherwise.
The basis for the decision by the court was not revealed.
Kwon was arrested at an airport in Montenegro last March, after being caught with fake passports.
The charges laid against Kwon and TerraForm Labs stem from the collapse of TerraUSD, a "stablecoin" designed to maintain a constant one U.S. dollar price, and the Luna token, which was closely linked to TerraUSD.
Both cryptocurrencies lost an estimated 40 billion U.S. dollars or more in May 2022, when TerraUSD failed to maintain its one-dollar peg.
The SEC said Kwon and his company deceived investors about the stability of TerraUSD, and that a popular Korean mobile payment app used the Terraform blockchain to settle transactions.
Lee Seung-jae, Arirang News.
#Montenegro_court #Do_Kwon #US_extradition #economy #crypto #Terraforms #cryptocurrency #테라 #권도형 #Arirang_News #아리랑뉴스
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2024-02-22, 09:00 (KST)

[@patrickp8315]

He deserves 100+ years prison time in the US for destroying many lives of LUNA holders worldwide.

[@jmtm82]

He definitely should get 100 yrs with no parole so he won't be able to use those money