Extradition of Crypto Entrepreneur Do Kwon to the USA Approved
Date: 2023-12-07 Author: Dima Zakharov Categories: IN WORLD
Extradition Decision Confirmed
According to a report by The Block, a few weeks after the high court of Montenegro approved the extradition of Do Kwon, the decision to send the entrepreneur to the USA has been finalized. An anonymous source revealed that the country's Minister of Justice has agreed with this verdict and will oversee Kwon's transfer into the hands of United States authorities.
Minister's Plan for Extradition
During closed-door discussions, Montenegro's Minister of Justice, Andrej Milović, reportedly expressed his intention to send Do Kwon to the USA. The well-known Asian entrepreneur and co-founder of Terraform Labs and the crypto startup Terra (LUNA) has been in Podgorica prison for several months, facing charges related to document forgery while attempting to leave the country.
Previous Extradition Agreements and Appeals
It was previously reported that Kwon had agreed to extradition to South Korea. Later, he and his lawyers filed an appeal against the decision to send him back to his home country. Ultimately, Milović had to make the decision about the developer's fate and which country would take precedence.
Awaiting the Court's Verdict
The Minister has not officially announced his decision yet and is likely to wait for the court's verdict on Kwon's latest appeal. If the entrepreneur's request is denied, he will be promptly sent to the United States.
US Regulatory Crackdown on Crypto Industry
In recent months, US regulators have intensified their efforts against well-known figures in the cryptocurrency industry. They have taken serious actions against entrepreneurs, including charging Binance founder and CEO Changpeng Zhao with money laundering and violating international sanctions. The allegations were so significant that CZ had to admit guilt and step down from his position as the head of the company. Binance agreed to pay fines exceeding $4 billion.
Do Kwon's Investigation
Do Kwon became the subject of investigations in 2022 after Interpol issued a "red notice." The businessman is accused of fraudulent activities related to two projects—Terra (LUNA) and TerraUSD (UST). As a result of the startups' collapse, investors suffered losses exceeding $40 billion.
