In another development of the ongoing saga for the former crypto tycoon, Terra Luna founder Do Kwon is set to be extradited to the United States. Indeed, the Wall Street Journal reported that Montenegro has privately said it is set to send Do Kwon to the US to face criminal charges.
Do Kwon was arrested in March after he was found with falsified documents attempting to leave the country. Thereafter, the conversations regarding the Terra Luna founder’s extradition have dominated discussions. Now, it appears as though they are set to come to fruition.
Also Read: Terra Founder Do Kwon Faces Extradition as Montenegro Court Gives Nod
Terra Luna’s Do Kwon Set to be Extradited to the US
Once a key name in the digital asset industry, Terra Luna’s Do Kwon has been well noted for his failures. Indeed, his manipulation of the TerraUSD stablecoin led to a host of criminal charges against him. Moreover, the $40 billion crash has prosecutors in both the United States and South Korea seeking to bring him on trial.
Subsequently, Do Kwon was arrested in Montenegro as he sought to leave the country with falsified documents. Since March, he has been apprehended in the country, with clarification on his extradition now becoming clearer. Indeed, reports state that Do Kwon is set to be extradited to the United States.
Also Read: Terra Founder Do Kwon Opposes SEC Extradition Request
The report references a top Montenegrin justice official who verified the extradition plan privately. Moreover, the development arrived after Do Kwon sought to make several final attempts to avoid being extradited. Specifically, his lawyers had reportedly appealed a decision made in late November that approved such a handover.
Do Kwon was charged by the US Securities and Exchange Commission (SEC) in February for “orchestrating a multibillion-dollar crypto asset securities fraud.” His extradition will likely precede an ongoing trial regarding the crimes he committed while the head of Terra Luna.