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It's been a while since we heard any news about Terra founder Do Kwon. According to the last update, the Montenegrin court decided to extradite Do Kwon to South Korea for trial, seemingly settling the matter. However, the Montenegrin Prosecutor's Office recently filed an appeal with the Supreme Court, seeking to overturn the court's decision. This means that the final extradition location for Do Kwon is once again uncertain.
As many are aware, the Terra blockchain collapsed in 2022, resulting in global investors losing over $40 billion. After Terra founder Do Kwon was arrested in Montenegro in March last year, both South Korean and U.S. authorities sought to extradite him to their respective countries for trial. Initially, the Montenegrin court ruled to extradite Do Kwon to the United States, but Montenegro decided to extradite him to South Korea instead.
However, when the court ruled to extradite him to South Korea, the situation changed again. According to reports, Montenegro's various Prosecutor's Offices stated on Thursday that due to procedural errors in the case, they need to refer it to the Montenegrin Supreme Court for a decision. The Prosecutor's Office stated in its declaration that both the appellate court and the high court "exceeded their jurisdiction by making an extradition decision," which is the prerogative of the Minister of Justice. Therefore, they have requested the Supreme Court to overturn the previous decision.
This latest twist may pave the way for Do Kwon to be extradited to the United States, which is the preferred extradition location for Montenegrin government officials. However, Do Kwon's defense team is attempting to have him extradited to South Korea. The key question is why extradite him to South Korea? This is because, compared to the United States, South Korea has lighter penalties for similar financial frauds. In South Korea, Do Kwon could potentially be sentenced to a maximum of 40 years in prison. In comparison, FTX founder SBF faces similar financial fraud charges, with a maximum total sentence of 115 years.
But even if Do Kwon is ultimately extradited to South Korea, the South Korean government may still reach an agreement with the United States to have him tried in New York first. The U.S. could argue that they have stronger capabilities to seize Do Kwon's assets worldwide and agree to share these assets with South Korea. Earlier reports suggested that Do Kwon could be extradited to South Korea as soon as the 24th. If he is indeed extradited to South Korea, it is estimated that civil lawsuits filed by victims within South Korea could involve approximately 200,000 people. |
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Post time 2-4-2024 09:48:43