Terra Founder Do Kwon’s Extradition Approved by Montenegrin Court – Here’s the Latest
A court in Montenegro’s capital, Podgorica, has approved the extradition of Do Kwon, the founder of Terra, to either South Korea or the United States.
According to a recent update on the judiciary’s website , the final decision on the country of extradition will be taken by the Montenegrin Justice Minister.
However, before the extradition process takes place, Kwon will serve a four-month prison sentence in Montenegro for the crime of document forgery.
Kwon’s arrest took place in March at Podgorica’s airport, where he was apprehended with falsified documents.
Kwon’s legal troubles extend beyond Montenegro.
In addition to the charges of document falsification, he faces multiple counts of fraud levied by U.S. federal prosecutors.
US prosecutors have claimed that Kwon made a series of false and misleading statements during a TV interview about the extent to which the Terra blockchain had been adopted by users.
The disgraced crypto boss also made a series of purportedly misleading statements about the effectiveness of the TerraClassicUSD stablecoin to keep its peg with the US dollar, as well as Kwon’s alleged involvement in trading strategies that were designed to alter the market price of assets.
Furthermore, he is also dealing with civil charges in the U.S., as well as an ongoing investigation in South Korea related to the collapse of TerraUSD last year.
Just recently, the Montenegro High Court upheld the four-month prison sentence for Kwon and his associate Han Chang-Joon.
The court rejected their appeal, deeming the sentence appropriate. After serving his sentence in Montenegro, Kwon faces the possibility of extradition to either South Korea or the U.S.
In a separate but related development, Daniel Shin,
