Do Kwon faces extradition after Montenegro court verdict

November 25, 2023 01:11 AM AEDT | By Invezz

Do Kwon faces extradition after Montenegro court verdict — Image source: Invezz

Wanted by both South Korea and the United States

In South Korea, Kwon faces criminal charges on financial services and capital markets violations, including fraud. In the US, he’s been indicted at the District Court of the United States of the Southern District of New York. Criminal offenses include wire fraud and conspiracy to commit fraud.

Before his arrest and imprisonment in Montenegro, Do Kwon had been on the run since September 2022. News of a “Red Notice” by the Interpol saw him go into hiding. South Korea and the US had both indicted Kwon following the collapse of TerraUSD (UST) and Luna in May, an implosion that sank the $40 billion Terra crypto ecosystem.

The collapse saw massive contagion across the industry, with major crypto lenders and hedge funds including Three Arrows Capital, Celsius Network and Voyager, going down.

Notable persons to come under fire for various crypto crimes since these events include former Celsius CEO Alex Mashinsky, FTX founder and CEO Sam Bankman-Fried (recently found guilty on seven counts) and Barry Silbert (Digital Currency Group boss sued by the New York Attorney General).

Former Binance CEO Changpeng Zhao is also facing charges in the US. He stepped down this week as his exchange agreed a $4.3 billion settlement with the US Department of Justice (DOJ).

The post Do Kwon faces extradition after Montenegro court verdict appeared first on Invezz

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.