South Korean cryptocurrency fugitive Do Kwon has been released from a Montenegrin prison.
He was released on Saturday, March 23, Bloomberg reported. The Supreme Court suspended the extradition of the Terraform Labs co-founder to South Korea pending a lower court's decision.
#Terra founder Kwon is currently facing fraud charges in both South Korea and the U. S. in connection with the collapse of Terra #Luna , which caused the company to lose about $60 billion in market value by 2022. 'I'm not sure if I'm a good person or not, ' Warden Darko Vukcevic said by phone:
We released Do Gwon, who was serving time for traveling on false documents. He is a foreign citizen and was taken to a foreign police station for questioning because he lost his documents.
The decision to release Kwon was reportedly made by the Supreme Court Council, which must consider extradition to his home country, South Korea. South Korea has relatively lighter penalties than the U. S. , and prosecutors hope to prosecute Kwon for the $40 billion TerraUSD algorithmic stablecoin crash in 2022.
Kwon's lawyer, Goran Rodic, has also agreed to his release. According to state television, Kwon's passport was withheld to prevent him from leaving the country. Kwon was then transferred to an alien protection center, state television reported, citing Rodic's lawyer. Rodich's lawyer said he intends to ask the court not to release Kwon until the extradition issue is resolved.
The Supreme Court's decision was appealed by the Balkan country's chief prosecutor, who said there were procedural errors in the ruling in favor of South Korea. Extradition to either country is pending further arguments in court, and no specific timeline was given after Friday's announcement.
If extradited to the U. S. , the Terraform Labs co-founder would likely face trial in March 2023 on eight criminal charges brought by prosecutors. Mr.
Authorities in the U. S.
Read us at: Compass Investments