Do Kwon, the founder of Terraform Labs, may soon return to South Korea from Montenegro due to a crucial court decision expected on March 23. This information was conveyed by Kwon's lawyer in an interview with journalists.
Kwon's escape journey resembles the plot of a spy novel. For months, he managed to evade pursuit from South Korea, traveling from one country to another until he was eventually apprehended in Montenegro. The reason for his arrest was an attempt to cross borders with forged documents, along with Han Chang-joon, a key member of Terra, who was returned to South Korea in February.
Kwon's stay in Montenegro isn't just about its beautiful scenery. He spent four months in prison there for using counterfeit documents. According to his lawyer Goran Rodic, Kwon's likely next destination is South Korea. Rodic stated that the whole process is in accordance with the law and the evidence gathered. Whether Kwon will attempt any legal maneuver against this decision remains Rodic's secret.
The situation is complicated by the fact that Kwon is wanted not only in South Korea but also in the USA for securities fraud charges. Nevertheless, courts in Montenegro have indicated that Kwon's future lies in South Korea, not the USA. This decision is the result of protracted legal disputes and courtroom dramas.
Local media in Montenegro announced this decision on March 7, suggesting that it could be the final chapters of Kwon's saga. The exact plan for his extradition has not yet been announced as no new official documents have been filed. Kwon continues to serve his sentence for document forgery until March 23, indicating that likely nothing will change until then.
South Korea has actively engaged in this case and utilized Interpol to secure Kwon's extradition. Kwon is not alone under pressure; Terra co-founder Daniel Shin faces his own legal issues in South Korea, including fraud allegations.
Kwon's legal battle in Montenegro began over the incident with a forged passport. Han Chang-Joon, former CFO of Terra, has already been extradited. Initially, it appeared that Montenegro was inclined to send Kwon to the USA, but the appellate court subsequently ordered a review of the entire case.
The appellate court's decision on March 5 may have offered Kwon a chance to avoid extradition to the USA. However, the issue is not just about his destination but about accountability for his actions. The USA and South Korea share a goal – to prosecute Kwon for his role in the collapse of the UST Terra stablecoin, which led to a loss of over $40 billion.
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