Things aren’t going in Do Kwon’s favor this year. After the Terraform Labs co-founder spent four months in a Montenegro prison for attempting to travel with falsified documents, he is now set to be extradited to the United States.
Montenegro’s Justice Minister Andrej Milovic plans to grant the request for extradition, as per a Wall Street Journal report that cites persons familiar with the matter.
Do Kwon currently faces eight charges in the US, including commodities fraud, wire fraud, securities fraud, and conspiracy to defraud and engage in market manipulation. The Securities and Exchange Commission has also pressed charges, including defrauding investors in crypto schemes. All the charges related to Kwon’s time while at Terraform Labs.
Once US officials are done with him, officials in South Korea would also like to have a word with him related to his crypto activities. The Asian nation had also applied for Kwon to be extradited, however it appears the United States won that battle first.
Information for this story was found via the Wall Street Journal and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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