Cryptocurrency NewsDo Kwon Faces Incarceration in Both US and South Korea

Do Kwon Faces Incarceration in Both US and South Korea

Do Kwon, the co-founder and CEO of Terraform Labs, may face numerous sentences in both South Korea and the United States, according to the chief South Korean prosecutor heading the investigation.

It is believed that Kwon is presently incarcerated in Montenegro on house arrest after having his bail request approved by a Montenegro court on June 5. Han Chang-Joon, the chief financial officer of Terraform Labs, and Kwon are both legally compelled to stay at Chang-Joon’s place of abode in Montenegro while an extradition decision is made.

Speaking to Bloomberg, Dan Sunghan revealed that Kwon’s extradition to South Korea made better sense “when it comes to bringing justice or recovering the damages for victims.”

According to Sunghan, most of the basic investigation around the collapse of the Terra ecosystem was done in South Korea. Furthermore, he asserted that in comparison to their American counterparts, local authorities have access to more evidence.

“The most efficient way to get justice is to have the investigation and trial take place in South Korea.”

When asked if Kwon could have to stand trial in both the United States and South Korea, Sunghan responded that “such a scenario is an option.” He said that while a criminal is still awaiting prosecution for part of the offences in one of the jurisdictions, they may be liable to numerous cross-border penalties.

Sunghan warned that if South Korean authorities don’t account for all the offenses Kwon is accused of committing in the US, he might be extradited to the US for trial after serving a sentence in South Korea that might total more than 40 years.


Join us

- Advertisement -