Two Indicted Including Police Chief Kwon in Montenegro
Impact on Extradition from Korea and the US
Kwon Do-hyung, CEO of Terraform Labs who caused the cryptocurrency 'Terra·Luna crash' incident, was arrested in the Southern European country Montenegro and has been charged locally with document forgery.
According to AFP on the 24th (local time), Montenegro police announced that "Kwon and two others have been charged with document forgery."
The Montenegro Ministry of Interior announced the day before that Kwon and his party were arrested while attempting to board a flight to Dubai, United Arab Emirates (UAE), using forged Costa Rican and Belgian passports. They were caught using a specific forged Costa Rican passport during passport inspection before boarding the flight to Dubai, as identified by Interpol.
Earlier, before the Terra·Luna incident, Kwon moved his residence from Korea to Singapore in April last year. As the prosecution investigation intensified, he left Singapore, passed through Dubai, UAE, and fled to Serbia.
With Montenegro directly taking charge of Kwon's judicial process, there is a possibility that this will influence the future handling of his custody.
Currently, the Korean prosecution plans to request extradition, while the U.S. New York Federal Prosecutor's Office has indicted Kwon on eight charges including securities fraud and wire fraud immediately after news of his arrest.
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