South Korea is vying with U.S. prosecutors for the right to extradite former Terraform Labs co-founder Do Kwon to its territory, where he will face fraud charges.
In a media interview in South Korea, the prosecutor leading the Do Kwon investigation said he believes extraditing the entrepreneur to his home country would be the best way to bring justice to the victims of TerraUSD and Luna.
Recall that immediately after it became known that Do Kwon had been detained by Montenegrin law enforcement authorities, the U.S.
Attorney’s Office filed several fraud charges against the disgraced founder. U.S. charges Terraform Labs co-founder with conspiracy to defraud, commodity fraud, securities fraud, wire fraud and conspiracy to manipulate the market.
Also, U.S. law enforcement authorities intend to press Montenegro to extradite the Terra founder to the United States.
Responding to Do Kwon’s extradition requests, Montenegrin Justice Minister Marko Kovac said his office will make the final decision based on the gravity of the crimes, the location, the sequence of the requests, and the nationality of the defendant.
According to the legal community, there is a high probability that Do Kwon will be expelled to South Korea.
Since the founder of Terraform Labs is a citizen of. Moreover, South Korea was the first to press charges months before Kwon’s arrest, while the U.S. only filed charges after his arrest.