{"id":140681,"date":"2023-06-09T21:46:53","date_gmt":"2023-06-09T21:46:53","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=140681"},"modified":"2023-06-11T12:13:31","modified_gmt":"2023-06-11T12:13:31","slug":"do-kwon-could-face-prison-in-both-us-and-south-korea-prosecutor-says","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/do-kwon-could-face-prison-in-both-us-and-south-korea-prosecutor-says\/","title":{"rendered":"Do Kwon Could Face Prison in Both US and South Korea, Prosecutor Says"},"content":{"rendered":"\n
The co-founder and CEO of Terraform Labs, Do Kwon, may face imprisonment in both the United States and South Korea, as revealed by a senior South Korean prosecutor leading the investigation.<\/p>\n\n\n\n\n\n\n\n
Do Kwon is currently on house bail after he was detained<\/a> by Montenegrin authorities when he attempted to leave the country using fraudulent documents. Shortly thereafter, the US and South Korean authorities submitted extradition requests for his return to their respective nations.<\/p>\n\n\n\n In an interview<\/a> with Bloomberg, South Korean prosecutor Dan Sunghan expressed his belief that Kwon’s extradition to South Korea would be the most appropriate course of action in terms of bringing justice to the victims and recovering damages<\/strong>. Sunghan emphasized that most of the initial investigation into the collapse of the Terra ecosystem took place in South Korea, and local authorities have access to more evidence than their American counterparts.<\/p>\n\n\n\n When questioned about the possibility of Do Kwon facing trials in both the US and South Korea, Sunghan acknowledged that such a scenario is indeed an option. If South Korean authorities do not address all the charges Kwon faces within the US, it is possible that after serving his sentence in South Korea, Do Kwon could be extradited to the US for prosecution, potentially resulting in a cumulative penalty exceeding 40 years.<\/strong><\/p>\n\n\n\n According to Sunghan, Kwon’s sentence is expected to be the longest ever handed down in South Korea.<\/strong> The prosecutor described the case as “the largest financial fraud<\/a> or financial securities fraud case that has ever happened in South Korea.”<\/em><\/p>\n\n\n\nTrial in Two Jurisdictions: A Viable Scenario<\/h2>\n\n\n\n
Allegations Against Do Kwon and Terra<\/h2>\n\n\n\n