Do Kwon Approved for Extradition After Document Forgery
Do Kwon, the founder of Terraform Labs, has been approved for extradition to either South Korea or the United States by a court in Montenegro. This decision follows Kwon’s arrest in March for possessing false documents and his subsequent four-month prison sentence in Montenegro for document forgery. The final decision on Kwon’s extradition will be made by the Montenegrin Justice Minister after he serves his prison sentence.
Do Kwon Hit with Multiple Charges
Kwon is currently facing multiple charges of fraud in the US, as well as ongoing investigations in South Korea and the US related to the collapse of TerraUSD last year. Terraform Labs co-founder Daniel Shin has also been indicted in South Korea for capital markets law violations, with prosecutors freezing $185 million in assets. Shin denied any involvement in the company’s collapse, claiming he left two years prior.
Montenegrin Court Affirms Prison Sentence
Recently, the Montenegrin High Court affirmed the four-month prison sentence of Do Kwon, co-founder of Terraform Labs, for falsifying documents. Han Chang-Joon, Kwon’s associate, also received the same sentence. The court rejected their appeal and deemed the punishment fitting.
Hot Take: Do Kwon’s Legal Troubles Continue
Do Kwon, founder of Terraform Labs, is facing extradition and multiple charges of fraud in connection with the collapse of TerraUSD. Alongside co-founder Daniel Shin, who has also been indicted for capital markets law violations, they are caught up in legal battles that may have significant consequences for their futures. With authorities freezing millions of dollars in assets and ongoing investigations taking place across different countries, it remains to be seen how these cases will unfold and what impact they will have on the cryptocurrency industry as a whole.
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