Do Kwon to Stand Trial in Montenegro – Do Kwon, also known as Kwon Do-Hyung, the CEO of the company responsible for the crashed stablecoin terrausd and cryptocurrency luna, was arrested in Montenegro on March 23 for using a false Costa Rican passport while trying to leave for Dubai. He will face trial in Montenegro, and his lawyer, Vojislav Zečević, stated that his trial for using forged personal documents must be completed before he can be extradited to other countries.
Both South Korea and the United States are seeking his extradition, but the process is expected to take some time as Montenegro’s judicial authorities intend to indict him. Kwon’s pre-trial detention has been extended for 30 days due to his flight risk and the need to verify his identity. His lawyer claims that the passport was legitimate, but a forged Belgian passport was found in his luggage.
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In addition, investigators found three laptops and five mobile phones belonging to Kwon that carried a lot of “very interesting” information. Montenegro’s Justice Minister Marko Kovač said that a judge will decide if Kwon will be extradited to the U.S. or South Korea, but Kwon may have to serve time in Montenegro first if convicted of traveling on fake documents.
“Consideration will be given to the gravity of crimes, the location of committed offenses, the sequence of requests, as well as the citizenship” of the suspects, Kovač elaborated on Wednesday. Kwon was arrested with Terraform’s Chief Financial Officer, Han Chang-joon.