US Prosecutors to Appeal Montenegrin Court’s Decision to Extradite Do
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Ruholamin Haqshanas
Ruholamin Haqshanas
Last updated:
March 8, 2024 06:30 EST
| 2 min read
Source: YouTube/Coinage
US prosecutors aim to appeal the Montenegrin High Court’s decision to extradite former cryptocurrency mogul Do Kwon to South Korea to face charges related to the $40 billion collapse of the TerraUSD stablecoin in 2022.
The US Justice Department stated on Thursday that it will continue to seek Kwon’s extradition in accordance with relevant international agreements, bilateral agreements, and Montenegrin law, according to a Bloomberg report.
“The United States appreciates the cooperation of the Montenegrin authorities in ensuring that all individuals are subject to the rule of law,” the authorities wrote.
Do Kwon Remain in Custody in Montenegro.
Do Kwon, co-founder of Terraform Labs Pte, was arrested in Montenegro in March 2023 for using a fake passport.
Kwon’s arrest triggered competing extradition requests from prosecutors in Seoul and New York.
While the court ruling may be viewed as a victory for Kwon, as his lawyers have expressed a preference for him to be extradited to South Korea, some legal experts in the crypto industry have raised doubts about the decision.
Terrence Yang, a managing director at Swan Bitcoin and former counsel at Merrill Lynch, called the ruling “a travesty” and questioned the wisdom of sending Kwon to South Korea.
“The US probably has the largest number of victims by both number and dollar amount,” Yang said.
“It seems a bit ridiculous for the Montenegro court to extradite Do Kwon to South Korea, where he might get acquitted or a comically light sentence as opposed to the United States.”
The SEC has been pursuing a civil case against Terraform Labs and Kwon, linking their operations to an alleged $40 billion cryptocurrency fraud.
Previously, the SEC agreed to postpone Kwon’s trial to mid-March due to Kwon’s extradition request.
Kwon’s legal team filed an appeal against the Montenegro High Court’s decision to uphold the extradition requests from both the United States and South Korea.
Moreover, Do Kwon’s legal representative in Montenegro Goran Rodic has presented an argument favoring Kwon’s extradition to South Korea over the United States.
Terraform Labs Files for Bankruptcy.
Terraform Labs filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on January 21, citing estimated assets and liabilities between $100 million and $500...
https://cryptonews.com/news/us-prosec...
#crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptoworlddaily #cryptoregulation #cryptoregulationnews #cryptoregulationnewstoday #dokwon #dokwonnews #dokwonnewstoday #southkorea #southkoreanews #crypto
***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!
This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.
bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple
Last updated:
March 8, 2024 06:30 EST
| 2 min read
Source: YouTube/Coinage
US prosecutors aim to appeal the Montenegrin High Court’s decision to extradite former cryptocurrency mogul Do Kwon to South Korea to face charges related to the $40 billion collapse of the TerraUSD stablecoin in 2022.
The US Justice Department stated on Thursday that it will continue to seek Kwon’s extradition in accordance with relevant international agreements, bilateral agreements, and Montenegrin law, according to a Bloomberg report.
“The United States appreciates the cooperation of the Montenegrin authorities in ensuring that all individuals are subject to the rule of law,” the authorities wrote.
Do Kwon Remain in Custody in Montenegro.
Do Kwon, co-founder of Terraform Labs Pte, was arrested in Montenegro in March 2023 for using a fake passport.
Kwon’s arrest triggered competing extradition requests from prosecutors in Seoul and New York.
While the court ruling may be viewed as a victory for Kwon, as his lawyers have expressed a preference for him to be extradited to South Korea, some legal experts in the crypto industry have raised doubts about the decision.
Terrence Yang, a managing director at Swan Bitcoin and former counsel at Merrill Lynch, called the ruling “a travesty” and questioned the wisdom of sending Kwon to South Korea.
“The US probably has the largest number of victims by both number and dollar amount,” Yang said.
“It seems a bit ridiculous for the Montenegro court to extradite Do Kwon to South Korea, where he might get acquitted or a comically light sentence as opposed to the United States.”
The SEC has been pursuing a civil case against Terraform Labs and Kwon, linking their operations to an alleged $40 billion cryptocurrency fraud.
Previously, the SEC agreed to postpone Kwon’s trial to mid-March due to Kwon’s extradition request.
Kwon’s legal team filed an appeal against the Montenegro High Court’s decision to uphold the extradition requests from both the United States and South Korea.
Moreover, Do Kwon’s legal representative in Montenegro Goran Rodic has presented an argument favoring Kwon’s extradition to South Korea over the United States.
Terraform Labs Files for Bankruptcy.
Terraform Labs filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on January 21, citing estimated assets and liabilities between $100 million and $500...
https://cryptonews.com/news/us-prosec...
#crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptoworlddaily #cryptoregulation #cryptoregulationnews #cryptoregulationnewstoday #dokwon #dokwonnews #dokwonnewstoday #southkorea #southkoreanews #crypto
***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!
This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.
bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple
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