Breaking: Do Kwon Extradition Confirmed
South Korea will receive Do Kwon’s extradition from Montenegro, following a ruling by the Appellate Court of Montenegro, which upheld an earlier decision by the High Court of Podgorica. Kwon, co-founder of Terraform Labs, faces charges related to the $40 billion collapse of Terra.
In April 2024, a U.S. court found Kwon guilty of fraud. The SEC accused him of misleading investors, resulting in a $4.47 billion settlement. Interpol issued a red notice for Kwon in September 2022, and he was arrested six months later using a fake passport. Montenegro sentenced him to four months for document falsification. Both the U.S. and South Korea sought his extradition, but the court favored South Korea.
Additionally, the Seoul Southern District Court ruled in favor of Kwon’s wife, deeming certain seized properties as hers. Claims have surfaced about Montenegrin Prime Minister Milojko Spajic’s alleged investment in Terraform Labs, which he denies.
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