Do Kwon’s Extradition Likely to Take Time, Montenegrin Prosecutor Says

Do Kwon’s Extradition Likely to Take Time, Montenegrin Prosecutor Says

A prosecutor investigating Terraform Labs CEO Do Kwon for alleged passport forgery in Montenegro has indicated that he will not be extradited soon. The law enforcement official told South Korean media that Montenegrin authorities intend to indict Kwon within a month, ruling out the possibility of him being handed over to other countries within the detention period. Passport Forgery Investigation Takes Precedence Over Extradition Requests in Do Kwon’s Case

It may take some time before an extradition process begins for Do Kwon, the South Korean Yonhap news agency reported, quoting the prosecutor working on the case of the Terraform Labs co-founder who was recently arrested in Montenegro.

Judicial condemnation of crimes that have taken place in Montenegro’s jurisdiction is a priority for the authorities in the small Balkan nation, Haris Šabotić stated in an interview in the Montenegrin capital Podgorica on Monday.

Šabotić is in charge of the local investigation against Kwon for alleged forging of documents. The chief executive of the company behind the failed stablecoin terrausd and cryptocurrency luna was detained on March 23 while trying to board a flight to Dubai using a fake Costa Rican passport. Haris Šabotić. Source: Yonhap.

Kwon Do-Hyung, as is his full name in Korean, disappeared after departing for Singapore in April, 2022, right before the collapse of the two coins ust and terra. He then fled to Serbia, where he reportedly registered a new firm, before eventually ending up in neighboring Montenegro.

The prosecutor noted that the allegations of counterfeiting are subject to an ongoing investigation, rejecting earlier media reports that Kwon has already been indicted. Following a 72-hour initial detention, a Montenegrin court extended the measure to 30 days.

The goal is to indict Kwon within that period, Haris Šabotić further noted. “We don’t know how the situation will develop after the indictment, but what is clear is that there is no possibility that the detainee will be handed over for 30 days,” he added.

South Korea, the United States, and Singapore are all trying to secure Kwon’s extradition. While Šabotić declined to discuss the matter in detail as it’s not up to the prosecution to decide on the requests, he emphasized that the fake passport case investigation will be prioritized, noting: We can move on to the next step only after the prosecution of this case is over. We are not interested in the issue of extradition.

If convicted of forgery of official documents, Do Kwon may receive up to five years in prison, according to Montenegro’s law. “If we bring charges within 30 days, the court will decide,” Šabotić said in the interview that took place at the District Prosecutor’s Office in Podgorica. Kwon is currently held in the Spuž detention center near the Montenegrin capital. Tags in this story Arrest, Case, ceo, co-founder, collapse, counterfeited, Crypto, Cryptocurrencies, Cryptocurrency, do kwon, Documents, extradition, fake, forged, founder, Haris Šabotić, Investigation, Kwon, LUNA, Montenegro, passport, Podgorica, prosecutor, prosecutor"s office, Šabotić, Stablecoin, terraform labs, TerraUSD

Do you think Montenegro will eventually extradite Do Kwon and if so, to where? Share your expectations in the comments section below. Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration. Law Firm"s White Paper Claims US Bank Regulators Are Waging a "Clandestine Financial War" Against Crypto Businesses NEWS | 2 hours ago Former FTX CEO Sam Bankman-Fried Faces New Bribery Charges for Alleged Crypto Payment to Chinese Officials NEWS | 6 hours ago

Image Credits: Shutterstock, Pixabay, Wiki Commons, Yonhap News Agency Previous articleFrench Authorities Raid 5 Major Banks Over Accusations of Money Laundering and Fiscal Fraud Next articleLaw Firm’s White Paper Claims US Bank Regulators Are Waging a ‘Clandestine Financial War’ Against Crypto Businesses Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItDraft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament

A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market ... read more.Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether