Do Kwon Could Face Jail Term in Montenegro Before the Extradition
The Terraform Labs co-founder and CEO, Do Kwon, will first stand trial in Montenegro for traveling on a forged passport before the extradition, according to his lawyer. The fugitive crypto entrepreneur may also serve a jail term in prison before he is extradited from the Balkan nation, indicated the Minister of Justice.
Alleged South Korean Crypto Fraudster to Face Trial in Montenegro
The co-founder and CEO of Terraform Labs, the company behind the
implosion of stablecoin Terra USD and cryptocurrency Luna, will face a trial in Montenegro. He
was arrested at the Podgorica Airport in Montenegro on March 23 while trying to
leave for Dubai using a forged Costa Rican passport.
His lawyer in Montenegro, Vojislav Zečević told Yonhap news
agency in South Korea on Tuesday that the trial for using forged personal
documents "must be completed first" before the Terraform Labs
co-founder can be extradited to other countries.
The prosecutor investigating the case said on Monday that
the process is likely to take time as judicial authorities in Montenegro are
keen to slap charges on Do Kwon. Both South Korea and the United States are
seeking the extradition of Kwon.
The lawyer Zečević intends to appeal the court order that
extended the pre-trial detention. The Korean was initially arrested for 72
hours, but a local court extended the measure to 30 days, citing the flight
risk and the need for verification of identity.
Investigators Seize Three Laptops and Five Mobiles
While Kwon’s lawyer claims the passport was legitimate,
Bloomberg reports of a forged Belgian passport that was also found in his
luggage. Meanwhile, the Interior Minister of Montenegro, Filip Adžić has revealed
that investigators have seized three laptops and five mobile phones belonging
to Kwon that hold "very interesting" information.
Bloomberg has quoted Justice Minister Marko Kovač of Montenegro
in another report, saying that a judge will decide if Do Kwon will be
extradited to the US or South Korea. He also said that Kwon may first have to
serve his term in the small European nation if convicted of traveling on fake
documents.
"Consideration will be given to the gravity of crimes, the
location of committed offenses, the sequence of requests, as well as the
citizenship" of the suspects, Kovač explained on Wednesday. Kwon was
arrested together with another man who has since been identified as the Chief
Financial Officer of Terraform Labs, Han Chang-Joon.
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