Before extradition, Terraform Labs founder Do Kwon will first have to stand trial in Montenegro for traveling on a false passport, according to his lawyer in the country. The fugitive crypto businessman may also have to spend time in prison before being extradited from the Balkan nation, his justice minister said.
Suspected South Korean cryptocurrency scammer Do Kwon is staying in the Balkans for now, authorities say
Kwon Do-Hyung, the CEO of the company behind the terrausd stablecoin and luna cryptocurrency, better known as Do Kwon, will face trial in Montenegro. He was arrested there on March 23 when he was trying to leave for Dubai with a false Costa Rican passport.
The Terraform Labs co-founder’s trial for using forged personal documents “must be completed first” before he can be extradited to other countries, his Montenegrin lawyer Vojislav Zečević told South Korea’s Yonhap news agency on Tuesday.
South Korean and US authorities are seeking Kwon’s extradition. However, the prosecutor investigating the case was quoted as saying on Monday that the process is likely to take some time as Montenegrin judicial authorities intend to indict him.
Zečević now added that he intends to appeal the court order extending Kwon’s pretrial detention. The Korean was initially detained for 72 hours, but a local court extended the measure to 30 days, citing the risk of flight and the need to verify his identity.
Kwon’s lawyer claims that said passport was legitimate but, according to a Bloomberg report, a forged Belgian passport was also found in his luggage. Meanwhile, Montenegrin Interior Minister Filip Adžić revealed that investigators also found three laptops and five mobile phones belonging to Kwon containing a lot of “very interesting” information.
In a separate report, Bloomberg quoted Montenegrin Justice Minister Marko Kovač as saying that a judge will decide whether Do Kwon will be extradited to the US or South Korea. He also stressed that Kwon may first have to serve time in the small European nation if he is found guilty of traveling with false documents.
“The seriousness of the crimes, the location of the crimes committed, the sequence of applications, as well as the citizenship” of the suspects will be taken into account, Kovač explained on Wednesday. Kwon was arrested along with another man who has since been identified as Terraform’s chief financial officer, Han Chang-joon.
Where do you think Montenegro will eventually extradite Do Kwon to? Tell us in the comment section below.
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