South Korea urges extradition of Do Kwon to his homeland

The South Korean prosecutor leading the investigation into Do Kwon, Dan Seung-han, has urged the extradition of Terraform Labs CEO Do Kwon to South Korea. The WSJ reports.

“Given the nature of the incident, we believe that conducting the investigation in South Korea would be the most effective path to achieving justice for investors,” said Dan Seung-han.

According to him, most of the evidence and key associates of Do Kwon tied to TFL are in South Korea. The bulk of the crimes he is charged with were committed there, the prosecutor added.

The United States also seeks extradition of Do Kwon, where he faces fraud charges from the Securities and Exchange Commission and the United States Attorney’s Office for the Southern District of New York.

The extradition procedure for the TFL CEO will begin after Montenegrin authorities complete the case of document forgery. In late March, Do Kwon attempted to fly from Podgorica Airport to Dubai, but he was arrested by local police.

In September 2022, South Korea issued an arrest warrant for Do Kwon and five other Terraform Labs employees on charges including violations of capital markets law.