NewsletterBreaking: South Korea Coordinates With Interpol to Extradite Terra Founder Do Kwon
Highlights
- South Korea starts preparing for Do Kwon's extradition to the country with assistance from Interpol
- Montenegro appeals court overturned recent decision by a court to extradited Do Kwon to the United States
- Do Kwon faces lower imprisonment in South Korea as LUNA is not a security in the country
After Terra co-founder Do Kwon won an extradition appeal in a Montenegro court annulling his extradition to the United States, South Korea escalated the matter and started preparing for Do Kwon’s extradition to the country. The National Police Agency is coordinating with Interpol to extradite Do Kwon to South Korea.
Do Kwon’s Extradition to South Korea
National Police Agency communicated with the International Criminal Police Organization (Interpol) for Do Kwon’s extradition to South Korea, reported a local news agency on March 7.
South Korea’s National Police Agency said it has requested the Interpol Secretariat in the name of the Interpol National Central Secretariat of the Republic of Korea, hoping to get support at the Secretariat level.
“The Ministry of Justice’s International Criminal Division and the National Police Agency are working together to repatriate Mr. Kwon through the International Criminal Cooperation Channel and Interpol’s International Cooperation Line, respectively,” said officer Lee Yong-sang.
Terra’s token LUNA is not a security in South Korea as the Southern District Court in Seoul ruled that these tokens are not securities under the Capital Markets Act. However, a judge in the U.S. SEC vs Terraform Labs and Do Kwon lawsuit ruled that LUNA is a security. It has implications over the severity of punishment and imprisonment terms, as the U.S. seeks his extradition for fraud charges.
Also Read: Here’s Why AI Tokens FET, RNDR, NEAR & Others Are Rallying Today
Do Kwon Wins Appeal in Montenegro Court
The Appellate Court of Montenegro accepted the appeal of the defendant Do Kwon, annulling the earlier decision of the High Court to return the case to the first instance to the court for retrial and decision. Han Chang-joon, the former chief financial officer of Terraform Labs, has been extradited to South Korea after serving a prison sentence in Montenegro.
Meanwhile, the U.S. District Court for the Southern District of New York seeks Do Kwon’s presence in the U.S. as parties have agreed to a trial adjournment on March 25.
Also Read: Bitcoin (BTC) Price to Hit $300K in 2024, Predicts “Rich Dad Poor Dad” Robert Kiyosaki
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