Do Kwon, co-founder of Terraform Labs, accused of fraud, has been released in Montenegro.
His release came as the Supreme Court considers the merits of extradition requests from the U. S. and South Korea.
As Bloomberg reported March 23, the Supreme Court overturned a lower court's decision to extradite Kwon to South Korea and he was released.
The court drama unfolds against the backdrop of the 2022 #Terra Crash, which wiped out about $60 billion from the #cryptocurrency market. Kwon, accused of fraud in both South Korea and the U. S. , was released from prison after serving time for possession of forged documents.
Prison official Darko Vukcevic said, "We released Kwon Dokwon, who was serving a sentence for possession of forged documents, because his sentence has been served.
Since he is a foreign citizen and his documents were missing, he was interviewed at the police station for foreigners and his further punishment was determined.
The Supreme Court panel must now decide on Kwon's possible extradition to South Korea.
In the latter case, he could face charges on eight criminal counts related to the dramatic collapse of the $40 billion Terrawood company in 2022.
Kwon's legal representative confirmed his client's release and noted that his passport was confiscated to prevent him from leaving Montenegro.
Kwon was subsequently transferred to a facility for foreigners, and his lawyer said he intends to seek permission to remain a fugitive until a decision is made on Kwon's extradition.
This legal confusion was further complicated by the intervention of the chief prosecutor, who pointed out flaws in the extradition procedure in favor of the South Koreans.
While the court deliberated without deciding on a timeline, Kwon faces serious charges in the U. S. after his arrest in March 2023 for using a fake passport.
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