Montenegro’s Justice Minister Andrey Milovich announced plans to extradite Terraform Labs (TFL) founder Do Kwon to the United States. The Wall Street Journal reports this, citing informed sources.
Officially Milovich has not announced his decision. Most likely, he will wait for the ruling on Kwon’s latest appeal.
Earlier, a court in Podgorica approved extradition, satisfying requests from both South Korean authorities and the United States. It is the justice minister who must determine which country will receive the founder of TFL.
The final extradition could take place after he serves a four-month sentence for document forgery.
In March, Montenegro police arrested Do Kwon and the former chief financial officer of TFL Han Chang-joon as they attempted to depart Podgorica airport for Dubai on forged passports.
The arrest occurred at the request of law enforcement agencies in the United States, South Korea and Singapore.
In his homeland, Kwon faces numerous charges, including violations of the capital markets laws.
In the United States, he is the subject of a fraud case being pursued by the SEC and the U.S. Attorney’s Office for the Southern District of New York.