Terraform Labs co-founder Do Kwon will reportedly be taken into extradition custody in Montenegro, according to a report by the regional edition of Radio Free Europe (RFE). He also faces questions about ties to a local political figure.

A spokesperson for the High Court of Montenegro told RFE that Kwon was ordered into custody for six months while the court decides on South Korea’s extradition request for him. A Seoul court issued an arrest warrant for Kwon in September. His case has been called “the largest financial fraud or financial securities fraud case that has ever happened in South Korea.”

The United States has also requested Kwon’s extradition to face charges by federal prosecutors and the U.S. Securities and Exchange Commission.

The Montenegrin Basic Court has scheduled a hearing on June 16 on charges against Kwon and former Terraform Labs chief financial officer Han Chong-joon of falsified travel documents. They were arrested on March 23 at the airport in Podgorica, Montenegro, while attempting to depart for Dubai.

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Author: Derek Andersen

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