United

when

Terra

Terraform Labs co-founder <a href="https://cointelegraph.com/top-people-in-crypto-and-blockchain-2023/do-kwon">Do Kwon</a>, who has been in Montenegro since his arrest in March 2023, will reportedly be extradited to the United States to face fraud charges.
According to a Feb. 21 report from Montenegrin news outlet Pobjeda, the High Court of Podgorica <a href="https://www.pobjeda.me/clanak/do-kvon-bice-izrucen-sad-u" target="_blank" rel="noopener nofollow">rejected</a> a request to extradite Kwon to South Korea before the United States. The decision <a href="https://cointelegraph.com/news/montenegro-revokes-do-kwon-extradition">followed an appeal</a> by Kwon’s legal team, arguing that Montenegro’s Justice Minister had the final authority to decide on the Terraform co-founder’s extradition — a claim the high court rejected. 
It’s unclear when Kwon will travel to the United States. After the collapse of Terra in May 2022, his whereabouts were largely unknown until March 2023, when Montenegrin authorities <a href="https://cointelegraph.com/news/do-kwon-reportedly-arrested-in-montenegro">arrested Kwon for using</a> falsified travel documents. He was sentenced to four months in prison and has been involved in extradition proceedings while in custody.
Related: <a href="https://cointelegraph.com/news/do-kwon-terraform-labs-files-chapter-11-bankruptcy-protection">Do Kwon’s Terraform Labs files for Chapter 11 bankruptcy protection</a>
Authorities in the U.S. and South Korea have been fighting for the first bite of the apple when charging Kwon with fraud related to his time at Terraform. The U.S. Attorney’s Office <a href="https://cointelegraph.com/news/do-kwon-faces-fraud-charges-from-us-prosecutors-hours-after-arrest">charged the Terra co-founder</a> with eight criminal counts shortly after his arrest in Montenegro. 
The U.S. Securities and Exchange Commission has a civil case against Kwon and Terra, with a trial <a href="https://cointelegraph.com/news/sec-terraform-labs-trial-march">scheduled for March 25</a>. Both parties were alleged to have orchestrated a “multi-billion dollar crypto asset securities fraud” related to offering TerraUSD (UST) and Terra (<a href="https://cointelegraph.com/terra-price-index">LUNA</a>). 
Magazine: <a href="https://cointelegraph.com/magazine/breaking-into-liberland-dodging-guards-decoys-and-diplomats/">Breaking into Liberland: Dodging guards with inner-tubes, decoys and diplomats</a>

Do Kwon to be extradited to US following last-ditch effort in Montenegrin court: Report

Cointelegraph

Other articles published on Feb 21, 2024

Crypto Prices Today: Bitcoin at $51K, Ethereum Nears $3,000 As XRP, SOL, PEPE Dip

Do Kwon Faces US Extradition Following Montenegro Decision

Price Analysis: Solana Decreases More Than 4% Within 24 Hours

Shiba Inu Coin: SHEboshi Launches; Here’s What You Need to Know

Polygon Deploys Palm Recognition Technology In AI Battlefront; Key Details Inside

Defi on BTC blockchain could accumulate $225b, Pantera Capital says

Join our free newsletter for daily crypto updates!