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Home » Do Kwon could be extradited to the USA in mid-March

Do Kwon could be extradited to the USA in mid-March

The extradition of Do Kwon, the businessman behind the failed cryptocurrencies Terra and Luna, to the United States is imminent. His defense attorney assured that the South Korean could be in the North American country as early as March to stand trial.

In a court filing in federal court in Manhattan, attorney David Patton he claimed that Kwon's extradition process “is in its final stages.”

Kwon is currently in custody in Montenegro, a Balkan country, for attempting to travel to Dubai, United Arab Emirates. with a false passport.

The businessman is accused in the United States and South Korea of ​​facilitating a fraud scheme that cost him $40 billion in losses. According to prosecutors, Kwon misled investors with information about the Terra blockchain.

In December 2023, Kwon was almost extradited to the United States. As CriptoNoticias reports, the decision to do so was made by the Minister of Justice of this country, Andrej Milović Send the controversial businessman to the US to face criminal charges.

This is taking into account the fact that both the United States and South Korea have issued extradition orders against Kwon and the decision on where he would ultimately be sent would depend on the authorities of Montenegro, according to that country's legal system.

But days after Montenegro's appeals court learned of Milović's decision, it ordered a new trial against the South Korean businessman and temporarily suspended his extradition to the United States.

According to Kwon's lawyer David Patton, Kwon is now expected to be in the United States “as early as mid-March.” This after that managed to postpone a court hearing due to the US Securities and Exchange Commission (SEC) lawsuit, scheduled for next January 29, according to the reported from the Bloomberg agency.

According to the lawyer, Kwon wants to conduct the civil case in the USA be postponed at least until next March 18th. Patton assures that delaying this hearing would give the businessman interviewed “a realistic opportunity” to appear before US authorities.

In 2021, the TerraUSD and Luna cryptocurrencies collapsed, triggering a veritable earthquake in the foundations of the cryptoasset ecosystem. The impact of this decline was so great that it triggered this year's bear market. this put a strain on the business activities of various companieslike Celsius or Three Arrows Capital (3AC).

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