After Terra co-founder Do Kwon won an extradition appeal in a Montenegro court denying his extradition to the United States, South Korea escalated the matter and started preparing for Do Kwon’s extradition to the country. The National Police Agency is coordinating with Interpol to extradite Do Kwon to South Korea.

Do Kwon’s Extradition to South Korea

National Police Agency is coordinating with the International Criminal Police Organization (Interpol) to extradite Do Kwon to South Korea, reported a local news agency on March 7.

South Korea’s National Police Agency said it has requested the Interpol Secretariat in the name of the Interpol National Central Secretariat of the Republic of Korea, hoping to get support at the Secretariat level.

“The Ministry of Justice’s International Criminal Division and the National Police Agency are working together to repatriate Mr. Kwon through the International Criminal Cooperation Channel and Interpol’s International Cooperation Line, respectively,” said officer Lee Yong-sang.

Terra’s token LUNA is not a security in South Korea as the Southern District Court in Seoul ruled that these tokens are not securities under the Capital Markets Act. However, a judge in the U.S. SEC vs Terraform Labs and Do Kwon lawsuit ruled that LUNA is a security. It has implications over the severity of punishment and imprisonment terms, as the U.S. seeks his extradition for fraud charges.

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Do Kwon Wins Appeal in Montenegro Court

The Appellate Court of Montenegro accepted the appeal of the defendant Do Kwon, annulling the earlier decision of the High Court to return the case to the first instance to the court for retrial and decision. Han Chang-joon, the former chief financial officer of Terraform Labs, has been extradited to South Korea after serving a prison sentence in Montenegro.

Meanwhile, the U.S. District Court for the Southern District of New York seeks Do Kwon’s presence in the U.S. as parties have agreed to a trial adjournment on March 25.

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The post Breaking: South Korea Coordinates With Interpol to Extradite Terra Founder Do Kwon appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am