Both countries are seeking Do Kwon’s extradition on charges related to the Terra debacle.The businessman could be extradited to the United States to face trial there;
“The sentence will be carried out first in South Korea and then in the United States,” according to Dan Sunghan, head of the Financial Crimes Investigation Bureau at the Seoul South District Prosecutor’s Office.
The prosecutor’s office official added that Do Kwon could receive a record sentence of up to 40 years in the financial fraud case.
“This is the largest financial fraud or securities fraud case that has ever taken place in South Korea,” Dan Sunhan said.
The extradition process could take up to nine months, depending on how long the defendant has been in custody.
Do Kwon is now in Montenegro, where he was arrested for document fraud. The Court of First Instance in Montenegro recently granted the bail application of 400,000 euros to Do Kwon and Technical Director Han Chang-Joon.