It has been reported that South Korea has taken the lead in requesting the extradition of Kwon Do-hyeong, co-founder of Terraform Labs, from Montenegro. South Korea and the United States have been seeking to put Kwon in front of federal prosecutors for his alleged involvement in a fraudulent scheme that resulted in a forty-billion-dollar loss in the crypto market.
It is said that South Korea made the extradition request before the United States, demonstrating its determination to bring Kwon to justice. This news has sparked discussions among experts and analysts regarding the extent of the involvement of Terraform Labs in fraudulent activities and the potential impact on the crypto market.
According to reports from the legal society and diplomatic authorities on Thursday, it has been revealed that the South Korean justice ministry had demanded the extradition of the perpetrator, the South Korean citizen better known as Kwon Do-hyeong, on 24th March.
This request was made approximately a day before the United States authorities made their request and a day after Do Kwon’s arrest. South Korea is moving quickly to bring Kwon to justice and is actively seeking his extradition from Montenegro, where he was apprehended.
The legal battle over Kwon’s extradition will likely intensify in the coming days as both the South Korean and United States administrations seek to prosecute him for his alleged involvement in the crypto fraud lawsuit that resulted in the loss of billions of dollars.
Do Kwon’s Contrary Extradition Request
Recent revelations have contradicted earlier reports by the Montenegrin daily that the United States had demanded the extradition of Kwon Do-hyeong before South Korea. This earlier report was based on a press release by the Montenegrin justice minister, but now South Korea has requested the United States.
This new information highlights the competition between the two countries to bring Kwon to justice for his alleged involvement in crypto fraud charges. The extradition battle is expected to intensify as both nations will likely pursue the lawsuit aggressively.
According to the minister, the ongoing court proceedings against Kwon in Montenegro for charges related to possessing forged documents will take precedence over the extradition requests. This situation means that even if Kwon is eventually deported, his return to South Korea could be delayed if he is found guilty and convicted in the Montenegrin court.
The legal battle over Kwon’s fate will likely continue for some time; Kwon’s extradition will depend on various legal factors, including the severity of the charges against him, the diplomatic relations between the involved, and the legal procedures in both Montenegro and the requesting countries.
Whether Kwon Do-hyeong will be extradited to the United States or South Korea, the local authorities have stated that several issues will be considered when deciding on the extradition, comprising the severity of the alleged offenses, the region and period of the crimes, and the sequence in which the extradition demands were received.
The ongoing court proceedings in Montenegro against Kwon for charges related to possessing forged documents may also impact the decision on his extradition. It remains to be seen how these factors will be weighed and which country will ultimately succeed in extraditing Kwon. The legal battle over his fate will likely continue, and experts closely monitor the developments in this high-profile case.
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