Montenegro Approves Extradition Order of Do Kwon to the United States
In a recent development, Minister of Justice Bojan Božović has signed a decision ordering the extradition of Do Kwon to the United States of America (USA), according to a report from Vijesti.
Previously, the Supreme Court of Montenegro ruled that the legal conditions for extraditing Do Kwon were met, following extradition requests from both South Korea and the United States.
The Ministry of Justice reviewed the Supreme Court’s verdict and considered factors such as the severity of the criminal acts, the location of the offense, the order of extradition requests, the citizenship of Do Kwon, the possibility of further extradition, and other relevant circumstances.
“Based on the above, it was concluded that most of the criteria provided by the law support the request for extradition by the competent authorities of the United States of America, and the Minister of Justice issued a decision allowing the extradition of Kwon Do Hyeong to the United States, and at the same time refuses extradition to the Republic of Korea,” the Ministry of Justice stated.
For context, the US and South Korean authorities have been investigating Do Kwon for his involvement in one of the largest disasters in cryptocurrency history. In May 2022, the value of two cryptocurrencies he created, TerraUSD and Luna, plummeted, resulting in a $40 billion loss in the cryptocurrency market. This triggered a chain reaction that led other digital crypto companies to declare bankruptcy. The investigation revealed that Do Kwon had deceived investors and was suspected of concealing wealth.
Do Kwon and his business partner Han Chang-Joon were arrested on March 23, 2023, at Podgorica Airport while attempting to travel to Dubai using forged passports. Do Kwon was sentenced to four months in prison in Montenegro for document forgery.
After serving his sentence, US and South Korean authorities initiated extradition proceedings. Following his release from Spuž prison on March 23, Do Kwon was transferred by Montenegrin police to the Foreigners’ Reception Center, where he will remain until the extradition process is completed.
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