The news in circulation is that South Korea could reach a deal for Terraform Labs CEO Do Kwon to be extradited to China. Do Kwon was apprehended by authorities in Montenegro after he used fake documentation to enter the country. As per official documents, Do Kwon is facing charges bordering on forgery in Montenegro. Reports also said that Kwon was in the company of another unnamed person who has also been detained by the authorities.
South Korea is working on extradition procedures
The police department of Montenegro also confirmed that it had filed a complaint against the Terra boss and the unknown person for document forgery. Aside from the forgery issue, authorities are looking at the possibility of holding Do Kwon for about 30 days because he denied having falsified his traveling documents.
However, a spokesperson for the district prosecutor’s office has told news stations that the government is looking into the likelihood of extraditing Do Kwon back to the country. She mentioned that the country is presently considering the long list of procedures that it will take to initiate the process. Do Kwon is looking to face a likely fate in the US with the US SEC already filing a lawsuit against him and his company some months ago.
Do Kwon was traveling to Dubai when he was arrested
Do Kwon has been on the radar of authorities after the mishap that his company Terraform Labs encountered. Although the Terra CEO had called for a diplomatic resolution, he has refused to come out of hiding for a while fearing arrest. He continually assured governments worldwide that he was ready for a dialogue provided his safety would be guaranteed. Meanwhile, the Terra CEO is now the defendant in a long list of lawsuits filed against his company by both the private and public in the wake of the Terra scandal. Despite things already going back to normal for the market, traders holding on to the token at the time ran into losses totaling billions in dollars.
Montenegro authorities also mentioned that the falsified documents look to have emanated from Costa Rica with Do Kwon and his partner looking to jet out to Dubai in the coming days. The police also mentioned that after a thorough inspection, the duo was said to have in their possession travel documents that show that they have been in Belgium and South Korea recently. While the interior minister revealed that Do Kwon and his partner held a forged document, the real identity of his partner has not been revealed by the authorities.