Cryptocurrency King Do Kwon: Montenegro Approves Extradition Decision in Legal Saga

Montenegro court approves extradition for 'Cryptocurrency King' Do Kwon. Get detailed insights into the unique legal saga surrounding his charges and potential destination.

Nov 25, 2023 - 08:48
Nov 25, 2023 - 08:48
 0  84
Cryptocurrency King Do Kwon: Montenegro Approves Extradition Decision in Legal Saga
Cryptocurrency King Do Kwon: Montenegro Approves Extradition Decision in Legal Saga

Montenegro court has given the green light for the extradition of cryptocurrency entrepreneur Do Kwon. Facing charges of multibillion-dollar fraud in the U.S. and a four-month prison sentence for using forged passports in Montenegro, Kwon's fate now rests on a decision by the justice minister, who will determine whether he is handed over to South Korea or the United States.

Arrested with an ally in March, police discovered doctored Costa Rican passports, a separate set of Belgian passports, and electronic devices in their possession. While Kwon agreed to extradition to South Korea, the final decision is pending completion of his prison term for document forgery.

Kwon, a South Korean national and former CEO of Terraform Labs, the company behind the collapsed stablecoin TerraUSD, has been a focal point of legal proceedings. The U.S. District Court in Manhattan issued an eight-count indictment against him for securities fraud, wire fraud, commodities fraud, and conspiracy. His lawyers and the company have vehemently opposed the U.S. allegations.

As the legal saga unfolds, the Montenegrin court's decision underscores the complex international legal proceedings surrounding Kwon's case, leaving the final decision in the hands of the justice minister.

Also Read: Binance’s New CEO Faces Big Challenges After Founder’s Legal Woes: In-Depth Analysis

iShook Opinion Curated by iShook Opinion and guided by Founder and CEO Beni E Rachmanov. Dive into valuable financial insights at ishookfinance.com for expert articles and latest news on finance.