(Podgorica) The United States and South Korea have both appealed to Podgorica for the extradition of Do Kwon, the fugitive South Korean cryptocurrency founder Terra arrested last week in Montenegro, the Minister of Justice announced on Wednesday. Justice of the small Balkan country.
“A meeting was held with the diplomatic representatives of Korea, after which Korea sent an extradition request”, Marko Kovac told the press, adding that “the extradition of Do Kwon was also requested by United States “.
Do Kwon, 31, is charged with fraud in last year’s crash of his company Terraform Labs, which caused investors to lose an estimated US$40 billion and scare cryptocurrency markets.
Do Kwon, whose full name is Kwon Do-hyung, was arrested at Podgorica airport on Thursday along with his chief financial officer, Hon Chang Joon.
According to the Montenegrin authorities, they had “falsified Costa Rican documents” at the time of a check before a flight which was to take them to Dubai. Inspection of their luggage also revealed falsified Belgian documents.
On Friday, a Montenegrin court had announced the indictment of the two suspects for falsifying documents and their placement in pre-trial detention for a maximum of 30 days “ due to the risk of absconding ”.
Following Do Kwon’s arrest, South Korea had promised to officially request his extradition, while American justice had announced that it had brought eight charges against him, including those of stock market fraud and online fraud.
The entrepreneur must now appear in two cases in Montenegro, the case of the alleged false papers and the examination of his potential extradition.
