A Montenegro Tribunal Approves Extradition of Terra Founder Do Kwon to South Korea or the United States
In a significant development in the legal saga surrounding Terra founder Do Kwon, a court in Podgorica, Montenegro has approved his extradition. Do Kwon, who was arrested at Podgorica airport in March with falsified documents, faces potential extradition to South Korea or the United States. However, the final decision on his extradition will be made by the Montenegro Minister of Justice after he serves his four-month prison sentence for document forgery in the country.
The Legal Problems of Do Kwon in the United States and South Korea
Following his arrest in Montenegro, Do Kwon is involved in several legal challenges. In the United States, he faces multiple fraud charges brought by federal prosecutors and civil allegations related to the collapse of Terra and UST in 2021. Meanwhile, South Korean authorities are investigating the same case. This legal situation comes after the Montenegro Supreme Court upheld Do Kwon’s prison sentence, dismissing an appeal from him and his associate Han Chang-Joon.
Co-founder Daniel Shin’s Indictment and Asset Freeze
Adding to Terraform Labs’ legal troubles, co-founder Daniel Shin was indicted in South Korea in April for violating the Financial Markets Act, resulting in the freeze of $185 million in assets. Shin, distancing himself from the company’s downfall, claimed to have left the company two years before its collapse, denying any direct involvement.
