A court in the Montenegrin capital Podgorica has approved the extradition of Terra founder Do Kwon to South Korea or the United States. Kwon was arrested in the country in March after being caught with forged documents at Podgorica airport.
Do Kwon's Extradition Approved
It was stated that the final decision regarding Kwon's extradition will be made by the Montenegrin Minister of Justice after he serves his four-month prison sentence in Montenegro for forgery of documents.
Following his arrest in Montenegro, Kwon faces multiple fraud charges by US federal prosecutors, in addition to existing civil charges in the US and an ongoing investigation in South Korea related to last year's TerraUSD collapse.
Earlier this month, the Supreme Court of Montenegro upheld the four-month prison sentence of Kwon and his partner Han Chang-Joon for document forgery.
He found the sentence appropriate, stating that Kwon faced the possibility of being extradited to South Korea or the USA after serving his sentence in Montenegro, and rejected his appeal.
In April, Terraform Labs co-founder Daniel Shin was accused of violating capital markets laws in South Korea, and prosecutors froze $185 million in assets. Shin denied involvement in the company's collapse and said he left two years ago.
*This is not investment advice.