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Home»ADOPTION NEWS»Montenegro Appeal Court Orders to Extradite Mr. Do Kwon to Korea
ADOPTION NEWS

Montenegro Appeal Court Orders to Extradite Mr. Do Kwon to Korea

By Crypto FlexsAugust 2, 20243 Mins Read
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Montenegro Appeal Court Orders to Extradite Mr. Do Kwon to Korea
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Company • August 1, 2024 12:45 PM EDT

Posted 1 minute earlier In ~

The Montenegrin Court of Appeal has rejected a U.S. request to extradite former Terraform Labs CEO Kwon Do-kwon and ordered his extradition to South Korea.

The Montenegrin Court of Appeal has confirmed the late June ruling by the High Court in Podgorica. name He was released by the appeals court on Thursday.

Attorney Kwon, the court and prosecutors have been going back and forth for months about where to extradite the former executive. Attorney Kwon and his attorney According to reports He preferred his home country, Korea. The maximum sentence for financial criminals is typically between 30 and 40 years. The United States, on the other hand, follows the principle that courts can sentence defendants to consecutive sentences for each crime they are convicted of.

Kwon Eun Get arrested He was charged with using a forged passport in Montenegro in March 2023 while trying to board a flight to Dubai with forged Costa Rican travel documents.

Both the U.S. and South Korea are pursuing criminal charges against Kwon. The U.S. Securities and Exchange Commission Charged Terraform and Kwon Debate on Algorithmic Stablecoins, February 2023 soil Luna

-3.29%
USD (UST) crashed a year ago, causing $40 billion in losses. Terraform and Kwon reached a $4.47 billion settlement with the SEC in May. The company must pay $3.58 billion in restitution and a $420 million civil penalty. The settlement also bars co-founder Kwon Do from becoming an officer or director of any public company.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Current financial disclosures include:

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

About the Author

Sarah is a reporter covering policy, regulation, and legal issues for The Block. Previously, Sarah was a securities regulation reporter at CQ Legal, where she first began reporting on cryptocurrencies. Sarah has also written for other financial publications, including The Bond Buyer and American Banker. She graduated from the University of Missouri with a degree in print and digital journalism. Sarah lives in Washington, D.C., and is an avid coffee drinker. You can follow her on Twitter @ForTheWynn.

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