- South Korean authorities seek Kwon’s extradition
- Most of the evidence is held in the fraudster’s home country
The scandalous co-founder and CEO of Terraform Labs Do Kwon risks 40 years in prison. South Korean authorities are also seeking Kwon’s extradition.
Prosecutor Dan Soon-han, who is overseeing the investigation, believes his return to his home country would best help the victims of the Terra token crash.
In an interview, the prosecutor said South Korea is where most of the crimes for which Kwon is accused occurred.
Given the nature of the incident, he believes an investigation in his home country would be the most effective way to bring justice.
If Kwon is found guilty, he could face an unprecedented sentence in South Korea.
The report said it could potentially exceed the 40-year sentence imposed on Seoul-based hedge fund manager Kim Jae-hyun.
The scandalous crypto-businessman was arrested March 23 in the Montenegrin capital of Podgorica with fake documents.
He was subsequently charged with fraud, conspiracy, and market manipulation. He appealed, but to no avail. Now he faces 40 years in prison if found guilty on all charges.