{"id":13744,"date":"2024-05-23T12:47:47","date_gmt":"2024-05-23T09:47:47","guid":{"rendered":"https:\/\/forklog.com\/en\/sam-bankman-frieds-prison-transfer-and-do-kwons-extradition-dilemma\/"},"modified":"2024-05-23T12:47:47","modified_gmt":"2024-05-23T09:47:47","slug":"sam-bankman-frieds-prison-transfer-and-do-kwons-extradition-dilemma","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sam-bankman-frieds-prison-transfer-and-do-kwons-extradition-dilemma\/","title":{"rendered":"Sam Bankman-Fried&#8217;s Prison Transfer and Do Kwon&#8217;s Extradition Dilemma"},"content":{"rendered":"<p><a href=\"https:\/\/forklog.com\/en\/news\/sam-bankman-fried-sentenced-to-25-years-in-prison\">Sam Bankman-Fried<\/a>, the founder of the collapsed FTX exchange sentenced to 25 years, is being moved to a new prison in California, according to <a href=\"https:\/\/www.wsj.com\/finance\/currencies\/sam-bankman-fried-ftx-founder-mendota-prison-california-e8447913?mod=e2tw\">The Wall Street Journal<\/a>, citing sources.<\/p>\n<p>Federal authorities initiated the transfer of inmates from the Brooklyn prison early on May 22, a representative for SBF stated. The spokesperson &#8220;could not confirm&#8221; the former FTX CEO&#8217;s destination, but sources familiar with the situation believe he will be sent to a prison in Mendota.<\/p>\n<p><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/a558q8Iy6Sg?si=6xQhhXCDKTAJczKJ\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>This move comes weeks after prosecutors recommended transferring Bankman-Fried to a high-security facility in California, near his parents&#8217; home in Palo Alto, the report states.<\/p>\n<p>However, the judge overseeing the process issued an order recommending he remain in the New York prison to &#8220;facilitate access to appellate counsel&#8221; during the <a href=\"https:\/\/forklog.com\/en\/news\/sam-bankman-fried-appeals-his-sentence\">appeal of his sentence<\/a>.<\/p>\n<p>Given the complexities of the U.S. penitentiary system, the actual transfer of SBF may take over a month.<\/p>\n<h2 class=\"wp-block-heading\">Discussions on Do Kwon<\/h2>\n<p>Montenegrin authorities <a href=\"https:\/\/www.gov.me\/clanak\/milovic-u-sec-fokus-na-zastitu-investitora-i-borbu-protiv-prevara-na-finansijskim-trzistima\">met<\/a> with representatives of the U.S. Securities and Exchange Commission (SEC) to discuss the investigation into Terraform Labs founder Do Kwon.<\/p>\n<p>According to a press release, the SEC presented the findings of its investigation and legal proceedings against Kwon to Justice Minister Andrej Milovi\u0107.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Representatives of the Commission and the Montenegrin delegation concluded that this meeting represents a significant step towards strengthening relations between the countries in the field of justice and investor protection [\u2026]&#8221;, the statement reads.<\/p>\n<\/blockquote>\n<p>On April 5, a jury in the Southern District of New York <a href=\"https:\/\/forklog.com\/en\/news\/do-kwon-found-guilty-of-fraud-in-sec-case\">found<\/a> Terraform Labs and Kwon guilty of deceiving investors and securities fraud. The SEC <a href=\"https:\/\/forklog.com\/en\/news\/sec-seeks-5-3-billion-penalty-for-do-kwon-and-terraform-labs\">filed a motion<\/a> seeking $5.3 billion in compensation and fines from the company and its founder.<\/p>\n<p>The dialogue between the two parties likely indicates ongoing discussions about Kwon&#8217;s extradition.<\/p>\n<p>In early March, the High Court of Podgorica <a href=\"https:\/\/forklog.com\/en\/news\/do-kwon-to-be-extradited-to-south-korea\">approved<\/a> the entrepreneur&#8217;s extradition to South Korean authorities. However, the prosecution <a href=\"https:\/\/forklog.com\/en\/news\/montenegro-confirms-extradition-of-do-kwon-to-south-korea\">opposed<\/a> it, citing procedural violations. Subsequently, the process was <a href=\"https:\/\/forklog.com\/en\/news\/montenegros-supreme-court-overturns-do-kwons-extradition\">overturned<\/a>.<\/p>\n<p>In South Korea, Kwon faces numerous charges, including violations of capital market laws.<\/p>\n<p>Earlier, it was reported that the co-founder of Terraform Labs will be <a href=\"https:\/\/forklog.com\/en\/news\/montenegro-to-release-do-kwon-amid-extradition-deliberations\">released from prison<\/a> after serving his sentence for attempting to cross the border with forged documents.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sam Bankman-Fried, the founder of the collapsed FTX exchange sentenced to 25 years, is being moved to a new prison in California, according to The Wall Street Journal, citing sources. Federal authorities initiated the transfer of inmates from the Brooklyn prison early on May 22, a representative for SBF stated. The spokesperson &#8220;could not confirm&#8221; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1236,1150,1403,852],"class_list":["post-13744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ftx","tag-news-plus","tag-sam-bankman-fried","tag-terra"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=13744"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13744\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/13743"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=13744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=13744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=13744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}